Big Real-Estate Firms Are Going to School

Rendering of a student-housing community by Brandywine Realty and Campus Crest in Philadelphia.

     Off-campus houses are getting a HUGE makeover.  Many big name real-estate development companies  are breaking into off-campus college housing.  "The moves are designed to help the companies better weather the next economic recession by diversifying into areas considered less sensitive to downturns."  Also, many colleges and universities do not have adequate funds to create more on-campus housing.  Since there is the problem of not enough on-campus housing for students these new off-campus housing options seem to be the solution to the problem.  These off-campus housing buildings will be much more luxurious than on-campus housing since the developers are planning to include many upscale amenities to draw the students in.  Some amenities include tanning beds, resort-style pools, and ice-skating rinks.
     This article blew my mind!  I mean an ice-skating rink right outside your college apartment?!  I understand why these developers are going into the college housing sector but I think they need to tone it down a little.  Students are at college to learn not to have a 365 day tan.  Also, with these housing options and these amenities of course the places will be expensive.  Many students will not even be able to afford to live there.  Especially in today's economy and the increase in student debt.  Students are becoming more aware of all the loans they will accumulate while in college and I am pretty sure they are not going to want to throw additional charges of an upscale apartment to the list when they can find more functional and economical living arrangements elsewhere.
     It will be interesting to see how these luxury college housing arrangements will make out and whether they are a success or not.

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