Luxury Student Housing
- Jul 15, 2014
Luxury is the name of the game in the student-housing industry nowadays. Communities feature all sorts of goodies—fitness centers, pools, tanning beds, screening rooms, fire pits, grills and more.
Recently, some of my colleagues were discussing this influx of luxury student housing, wondering if it’s a trend or something that will become just expected when it comes to student housing. Is luxury student housing here to stay, and how does it affect the students?
Are all the bells and whistles really necessary for students? After all, people are at college to learn. Their housing should keep them safe and provide them a place to study. Plus, new constructions and luxury amenities drive rents up, which is tough on students (or, more likely, their parents). What if luxury student housing is a bubble, and when that bursts there’ll be a ton of communities that will be struggling to get occupancies. And would students even bother going to class if they have all this cool stuff to occupy their time?
On the other hand, there’s always a reason not to go to class. The people who are easily distracted will be easily distracted, whether they have cool amenities or not. Why not make it more enjoyable for everyone else? Luxury student housing might also be a big draw for a college, which might boost admission. Plus, luxury student housing facilities could mentally prepare the students to want luxury apartments when they graduate, which is great for the apartment industry.
What are your thoughts on luxury student housing?