Student Housing to Face Higher Demand and Lower Supply

The demand for student housing is gearing more toward apartments with full amenities, and, therefore, comes with higher constructions costs. Increasing amenities leads to higher signing rates, and with pre-leasing for next year going well, the student housing industry seems to be looking at an optimistic 2015. Even though costs are up from last year and the supply will decrease, this is not stopping college students from buying purpose-built housing.

Properties opening this fall have already pre-leased an average of 44%t of their student beds, making this year’s leasing season the fastest since 1995. On top of that, enrollment for 2015 is expect to increase nationwide, which will raise the demand even further for student housing. 

Not as many projects will be complete in 2015 as there were in 2014, but 2015 will be a big year for new construction. With construction costs up and land space diminishing, the supply for student housing will grow at a slower rate throughout this year, but students will continue to desire luxury apartments. 

Click here for the full story from National Real Estate Investor, or click here for more Front Street news...

 

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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