The following blog is a summary and analysis of this article by the Houston Chronicle:
Texas A&M is one of the
largest universities in the United States, with over 50,000 students attending
the College Station campus. One of the largest and consistently growing
businesses in the area is student housing. Developers, realtors and apartment
complexes battle for market share over students. Some student housing providers
target niche markets of the student body. Callaway house tends to dominate the
freshmen Greek students. Traditions, The Rise, and the Stack appeal to students
who want to live closer to Northgate. Many students choose apartments based on
price or convenience to campus. Others choose their place of living on criteria
such as the best pool, amenities or reputation with little regard for price.
With over 50,000 students and a growing student body the student housing market
is ripe for growth but also rich with competition.
"Texas A&M has been growing
and is going to continue to grow. Land that has come available in close
proximity to campus is desirable. There is a lot of competition with student
housing, and to be competitive, everyone has to step up their game. Part of the
allure of student housing is that it has rigidity to it," he said,
referring to the reliable flow of students entering the market each year. Any
major university is a perfect place for that type of development.” –Oldham
Goodwin
Oldham is
referring to the transition from antiquated, cheap and outdated apartments of
the past to the new, hotel style, amenity filled apartments being developed
such as the Rise, and Northpoint Crossing. Places such as these come featuring
workout facilities, pools, spas, and
even in-house movie theatres. Rents for these apartment complexes can range
from $700 to over $1000 a month.
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