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.

“Students are no longer interacting socially or intellectually in the same way,” Ben Angelo, senior director, real estate development, Opus Development Co., LLC, tells GlobeSt.com. Much like millennials in the workplace, today’s students now want to have a range of spaces for communal use. Opus has designed much of this project’s amenity space with that in mind.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.