BUILDING FOR THE
are working in favor of
niche segments of the
namely student and
By Sule Aygoren Carranza
IN THIS TIGHT CAPITAL CLIMATE AND WEAK
economy, those looking to develop most types of real estate have
put their plans on hold. However, there are pockets of the industry
that present significant opportunities now as well as in the future:
student and seniors housing.
The greatest driver behind the demand for these products is
demographics involving both “boom” generations. In student housing, the first wave of echo boomers entered college in record numbers a couple of years ago, and the sheer size of that cohort is anticipated to grow considerably. Meanwhile, seniors housing firms,
which are currently catering to the parents of the original boomers,
are gearing up for the seismic shift that is to come in the next decade
or two, when baby boomers make the transition into independent
living, assisted living and congregate care retirement communities.
All of this, experts say, is expected to have considerable impact
on development and investment over the next several years. And
real estate players, they believe, will have ample opportunities to
capitalize off of these shifts.
Campus Apartments recently began work on the $26.6-million Campus
Crossings at Briarcliff in Decatur, GA. The 398-bed, 201-unit community
is on the campus of Emory University.