The days of amenities wars may be over as developers focus on the basics.
Are the days of lazy rivers, climbing gyms and virtual reality studios over in student housing?
Joseph Pimentel of Bisnow Los Angeles thinks they might be as developers focus on the basics, such as kitchens and larger common areas.
“And given the high cost of college and rising debt, the new generation of students also prefer affordable digs where they can focus on studying rather than posh living,” Pimental writes.
While it may sound counterintuitive, the need for affordable housing actually increases among graduate students.
At Bisnow’s SoCal Student Housing and Higher Education Summit in Los Angeles, Pierce Education Properties President and CEO Fred Pierce called building housing for graduate students "a narrow market."
“I hate to say this, but graduate students are poor,” Pierce said in comments reported by Pimentel. “Their parents are not paying for their education.”