LAS VEGAS—Secondary and tertiary markets are going to also see more development because most of them are undersupplied. That is according to Jamie Swick, a partner of student housing consulting at Integrity, based in Charlotte, NC.
GlobeSt.com caught up with Swick, a panelist at the upcoming RealShare Student Housing event this week in Las Vegas, on trends she is seeing in the market.
“Schools in the Northeast are going to see a boom in student housing but a lot of it will have to be redevelopment due to the age of the markets and lack of infill opportunity,” she says.
Another forecast for the student housing market, according to Swick, is that “Hybrid communities are next on the horizon where Millennials and students are housed together.”
Swick notes that markets like Deland, FL, are an example of “where you have a small school with no off campus housing for a very affluent student base and no housing for the work force serving the school either.” Individually, she says, “the target markets might not be sufficient to secure financing but together they are a slam dunk.”
Swick is seeing a re-examination of amenities, floor plans, and shared room occupancy. Amenities, she says, are “more suited to the unique values of the students in each market.”
As for floor plans, “sometimes students are very social with each other and so the traditional four bedroom with a large living room and smaller bedrooms is appropriate,” Swick says. “However some markets have students that value privacy and search out large bedrooms where they can also have lounge seating inside their bedrooms.”
Lastly, shared room occupancy, she tells GlobeSt.com, “can be strategically applied to maximize ROI and help make deals more financeable.”
Hear more from Swick and others the RealShare student housing event this Wednesday and Thursday in Las Vegas. It’s not too late to sign up.