chi-OpusUniv.ofIllinois (3) Fostering community in new projects like this has become more important.

CHICAGO—The Opus Group in partnership with The Carlyle Group has just started construction on a new 14-story student living community on the edge of the University of Illinois at Urbana-Champaign campus. Demand for new luxury student housing like this has been quite robust for several years, but company officials say subtle changes are underway in the sector, and developers need to offer more than simple luxury.