Multi-Housing News - December 2008 - (Page 4)

Is Student Housing Right for You? Even during the downturn, this niche market is providing opportunities As the parent of a high school senior who has visited seven colleges in the past seven months, you’d think I’d have first-hand knowledge of fantastic student housing options. But, despite all the buzz in our industry about the luxurious new face of this niche market, most of the schools we visited offered no tours of on-campus or off-campus housing. Maybe the novelty of the upscale student residence has worn off, but it’s more likely that schools in the northeast (where our search has focused) are behind on upgrading their aging housing stock. The couple of schools that did show their residence halls didn’t make a very good impression. Many factors go into applying to college, but when comparing apples to apples at a similar price point, the school that offers a far superior residence hall is much more likely to rise to the short list. Some “old school” college students might be fine with roughing it for four years, but others (or maybe it’s their Baby Boomer parents) have a different lifestyle in mind—and they’re being heard. This month’s Development & Design Feature, “The ‘Echo’ Boom Gets Louder: Student Housing is Healthy, but Still Requires Finesse,” describes the most sought-after features and amenities in student living. These trends are also shaping the sophisticated expectations that many Echo Boomers will have when they graduate and enter the rental housing market. The list includes an appreciation for distinctive architecture and creatively designed interiors, private rooms and baths, resort style pools, spas and 24-hour fitness facilities. Likewise, off-campus projects must recreate the comforts and privacy found at home and provide additional amenities while also matching socialization opportunities found on campus. That’s why Campus Advantage communities offer “resident life programs” staffed by “community assistants” available to help with outreach. Even in this challenging climate, student housing offers opportunities according to the specialists interviewed by MHN contributing editor Mike Russo. More than 17 million students enrolled in universities and community colleges last year, and most will be looking to private developers for their short-term housing needs. Besides a seemingly endless supply of renters, the number of graduate schools is expected to double over the next few years. And data released by Real Capital Analytics in September suggests the student housing sector will see record volume this year, making it the only property type to show growth in both sales volume and number of properties YTD versus the same period in 2007. The Southeast and Midwest regions had the highest level of activity and dollar volume YTD, according to Real Capital Analytics, with 41 sales totaling $766M in the southeast and 29 deals in the Midwest reaching $477M. Student housing trends should be watched not only for those planning to break into this niche market, but also because it’s driving multifamily trends. Students who graduate and rent their first apartments will be looking for many of the same amenities such as fitness facilities, bundled cable and Internet, and community events. Let’s not disappoint them. MULTI-HOUSING NEWS MHN GROUP PUBLISHER & SHOW DIRECTOR Daniel J. Corcoran daniel.corcoran@nielsen.com ASSOCIATE PUBLISHER Natasha Selhi nselhi@multi-housingnews.com ADVERTISING REPRESENTATIVES Associate Publisher: West, Mountain and Southern States Natasha Selhi nselhi@multi-housingnews.com Account Executive: Northeast and Midwest States Douglas Runner douglas.runner@multi-housingnews.com 856-415-0301/fax: 856-415-0302 Director of Digital & Live Events: Jason J. Wafalosky Multi-Housing World/Multi-Housing News jason.wafalosky@nielsen.com 484-624-5510 CLASSIFIED & GALLERY ADS Account Executive: Fatima Ruiz fatima.ruiz@nielsen.com 646-654-5763/fax: 646-792-7108 MARKETING DIRECTOR Kevin Marty kevin.marty@nielsen.com 516-682-6149/fax: 516-682-6166 ONLINE PUBLICATIONS www.multi-housingnews.com MHN Daily Newsletter MHN Property Management MHN Green Building & Design MHN Finance & Investment EXHIBIT BOOTH SALES & SPONSORSHIPS Jason J. Wafalosky jason.wafalosky@nielsen.com 484-624-5510 Multi-Housing World Expo & Conference REPRINTS The YGS Group Mike Shober 800-290-5460 ext. 129 MHN@theYGSgroup.com EDITOR-IN-CHIEF Diana Mosher dmosher@multi-housingnews.com EXECUTIVE EDITOR Keat Foong kfoong@multi-housingnews.com CREATIVE DIRECTOR Jonathan Marsland jonathan.marsland@nielsen.com ART DIRECTOR Michelle Matteson mmatteson@multi-housingnews.com MANAGING EDITOR Teresa O’Dea Hein thein@multi-housingnews.com ASSOCIATE EDITOR Erika Schnitzer erika.schnitzer@multi-housingnews.com CONTRIBUTING EDITOR Christopher Hosford Michael Russo ONLINE NEWS EDITOR Anuradha Kher anuradha.kher@nielsen.com MHN BLOG Erin Brereton www.multi-housingnews.com/blog Jack Kern jkern80124@gmail.com PRODUCTION MANAGER Jean Loesch jean.loesch@nielsen.com CIRCULATION Omeda nmhn@omeda.com 800-697-8859/fax: 847-291-4816 LIST RENTALS Nikki Miller 646-654-7261 nikki.miller@nielsen.com Diana Mosher Editor-in-Chief We invite you to share your comments with our readers. Diana Mosher can be reached at dmosher@multi-housingnews.com President: Greg Farrar • Senior VP, Human Resources: Michael Alicea • Senior VP, Marketing: Mark Hosbein • Senior VP, Finance: Derek Irwin • Senior VP, Entertainment: Gerry Byrne • Senior VP, Marketing, Media & Visual Arts: Sabrina Crow • Senior VP, Retail: David Loechner • Senior VP, Online: Linda McCutcheon • Senior VP, Building & Design: Joe Randall • Senior VP, Central Services: Mary Kay Sustek • VP, Licensing: Howard Appelbaum • VP, Manufacturing & Distribution: Jennifer Grego • VP, Audience Marketing: Joanne Wheatley 4 December 2008 | Multi-Housing News | Producer of Multi-Housing World http://www.multi-housingnews.com/blog http://www.multi-housingnews.com

Table of Contents for the Digital Edition of Multi-Housing News - December 2008

Multi-Housing News - December 2008
Contents
From the Editor
NMHC Notebook
Executive Insight
Finance: Acquisitions/Rehabs
Market Pulse
Development & Design: Student Housing
Market Report: 2009 Best Bets
Directory: Software Providers
Tech: Leasing Tools

Multi-Housing News - December 2008