The Orchard, 30-story mixed-use building, will have fruit trees on every balcony.

New law would permit higher density, overhaul land use approvals.

Conversions become a major growth sector as buying below replacement cost and renovating lowers risk. .

The five campuses encompass 2,642 beds and are 99% occupied.

REIT will provide leasing services and co-manage property with JPMorgan.

Developer will build 26-story, 485-unit student housing tower.

But a quarter of operators still have to limit admissions due to staffing shortages.

Related files for 25-story, 750K SF edifice on W. 36th Street.