Despite the demand, both schools are struggling to formulate and execute student housing strategies. Moreover, they face significant challenges in transforming their campuses into places where students had more housing options, the panel noted.

While cost is obviously one of the larger challenges – as well as the impact that financing these projects might have on the school’s credit and bond ratings – determining the best way to create the student housing is a major consideration.

At Rutger’s Newark campus, for example, the school has issued RFPs for the renovation of an existing building into student housing and the development of an entirely new property. Matias said the university is doing its best to make the shift to a “residential positive campus” in an effort to increase enrollment.

The challenges for Washington State University’s three branch campuses are unique to the individual markets, according to Arbour. As a result, the university is considering a variety of solutions including rehabbing an existing, underperforming hotel into student housing units, as well as master leasing an existing conventional apartment property.

“This is a big decision,” Arbour said, explaining that there are concerns that adding student housing will change the personality of the campuses. “Housing is more than just a place to live – it’s the face of the university.”