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Student housing developers target top universities as rents slow
Developers are underway with nearly 10,000 student housing units across 108 U.S. universities, totaling more than 29,000 beds, as rent growth and enrollment momentum weaken.
Bisnow reports that U.S. student housing developers are becoming more selective about where they build, citing stagnating student housing rents and slower growth in university enrollments.
At a Georgia Student Housing Conference, panelists said some developers are narrowing their projects to top-tier institutions that are still consistently drawing students, rather than expanding broadly.
Bisnow cites Yardi Matrix data showing developers are underway with nearly 10,000 student housing units across 108 U.S. universities, representing more than 29,000 beds.
CCI Real Estate CEO Jeff Warwick said he would not invest heavily even with $300 million in equity, adding that he wants to hold back capital for when market conditions change, while his firm redevelops a Baptist Collegiate Ministries building on the University of Georgia campus into a 353-bed student housing mid-rise.