News & Events

August 2016 Newsletter – Trends in Student Housing

As freshman and upper classmen alike arrive on campus this month, many will be taking residence in a newly renovated or newly constructed dorm, or off-campus apartment. Gone are the days of CMU walls and communal bathrooms. Today’s students enjoy more modern facilities that incorporate privacy in a small living space and common areas packed with amenities in the form of lounges, private study labs and coffee bars.
 

Today’s college freshman is on the leading edge of what is predicted to be the largest generation of college students ever to come through US institutions. They will often have to “tolerate” what past generations would consider luxury dorms their freshman year, before they can move on to the modern off-campus housing available at many universities. These palaces of high-end amenities, both inside units and in common spaces, are but the first wave of development being built to accommodate future demand.
 

The pressure this development puts on construction schedules and to existing older housing stock is intense to say the least. Deliveries of renovated or newly developed units are tied directly to the coming and going of the student schedule. Being able to start and finish a renovation project in the few summer months students vacate takes savvy scheduling, experience and a depth of manpower in order to deliver units on time and on budget to management companies that have likely preleased these units. Likewise, starting and delivering new construction in the same manner off a 12-18 months schedule is a talent not all GCs can provide.
 

The only trend likely to stay constant in the fast moving student housing sector is demand, and the need for an experienced partner in construction who can be a voracious advocate for your project delivering on time and on budget. CRG’s student housing group is the partner for your next project.