In the last five years, the housing market has seen an increased trend of high-end luxury apartments for students in college towns across the country. That is according to Michael Rothstein, a member of Dykema's Chicago office, who practices in the real estate department focusing on acquisitions, dispositions and finance. “One of the causes of this trend stems from colleges and universities experiencing budget constraints looking for more involvement by private developers in order to focus their funds on academic programs.”
Another reason, he says, is the mere popularity and convenience to college students of having amenities, such as game rooms, pools and fitness centers, all within their apartment building. “Institutions seeking to finance such projects should consider factors such as whether the developer has experience in these types of developments, the subject market (including trends in student enrollment) and the proximity of the location to the university campus.”
In the exclusive commentary below, Rothstein takes a closer look at the subject. The views expressed below are the author's own.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
