Campus Advantage Expands Management Portfolio
The company will manage an Alabama property slated for completion by next fall.
Campus Advantage has been tapped to manage Ivy Row at South, an 186-bed off-campus student housing development in Mobile, Ala., serving students at the University of South Alabama. The community is slated for completion by the 2022 fall semester.
The project site is located at 6636 Old Shell Road, less than a mile from the university campus. Plans for Ivy Row at South call for three-, four- and five-bedroom units. Apartments will offer stainless steel appliances, granite countertops, as well as washers and dryers. Residents will have access to a swimming pool, courtyard, study lounge, gym, clubhouse, dog park, and grilling area.
Data from the National Council of Education Statistics shows that the cost of off-campus accommodation in the market dropped 1.7 percent in the 2020-2021 academic year over the previous term, to an average of $9,020 per year. University of South Alabama had approximately 14,200 students enrolled in the 2020-2021 academic year. The market is currently served by only four purpose-built student housing properties, offering 873 units, Yardi Matrix data indicates.
This month, Campus Advantage was also selected to manage Taylor Bend, a 288-bedroom community serving students at the University of Mississippi in Oxford, Miss. The 2012-built community is within a mile of the University of Mississippi. The company now has more than 200 communities in its management portfolio.