"It's the fastest growing niche market in housing," says Douglas Culkin, president of the Arlington, VA-based NAA. "And, we're looking to grow it in the future." Not only is the Dallas assembly the largest student housing conference ever held, but he points out that it's the first one aimed at the operations end.
The conference, being held at the Fairmont Hotel at 1717 N. Akard St. in the CBD, ends this afternoon. Conference-goers from all over the US are putting the industry under the microscope, whether it's marketing or building the New Millennium version of dormitory life so that parents and students alike are drawn to their products, which are for the most part off-campus developments.
The most significant change in the arena in recent years has been "the acceptance" of student housing projects as an investment class, according to [IMGCAP(2)]Richard Wilhelm, shareholder in the Dallas-based law firm of Munsch Hardt Kopf & Harr. "Fifteen years ago, it was difficult to find lenders and investors. Now, it's becoming a standard item in most people's portfolios," he tells GlobeSt.com. "It has been hard for people to understand how this can make money. But, it really is doing very well."
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