Will the aged 3-to-a-room dormitory go the way of of the dinosaur?
A growing trend is local privatization of student housing.
And, I’m not talking about the pest-infested, party-trashed places that populate most college towns.
Nope, we’re talking serious upscale residences …
According to a CNBC report, colleges haven’t just been jacking up tuitions … room & board charges have been skyrocketing, too.
The high room charges and on-campus capacity constraints have created a market opportunity: privately-developed upscale off-campus housing.
“What you’ve seen over the last several years has been more of an urbanization of student housing, where more institutional players are coming in and developing these higher-end, more urban-style properties to cater to the needs of today’s college students.”
The “needs” of today’s college students?
We’re talking luxury buildings with tight security, concierge services, granite –countered kitchens, swimming pools, workout rooms,
Think University of Club Med.
Not surprisingly, there’s plenty of demand
Companies like Landmark Development are sprouting in many parts of the country and growing like bad weeds.
Click to view a a short video re: Landmark’s new resort – err, student housing complex – off the University of Georgia campus.
Eat your heart alums …