Where are the next big opportunities for student housing development?
A: “To date, many developers have strictly targeted the large state universities. The most neglected segment with the greatest potential, however, is the ‘mid-major' or smaller state universities with enrollments of 5,000 to 15,000 students. In these markets, land is generally less costly and there is usually less overall competition.”—P.J. Cusmano, director, Integra Realty Resources
A: “Conventional apartment communities immediately adjacent to campus that can be converted; small under-served colleges in the 5,000- to 10,000-student population range; and joint ventures on university land.”—Kevin R. Larimer, senior investment advisor, Hendricks & Partners
A: “Austin recently passed an ordinance granting increased building heights in the West Campus area adjacent to the University of Texas. As a result, high-density construction boomed and student housing transactions have been setting record sale prices.”—Patton Jones, national student housing sales director, Apartment Realty Advisors