Wellness is the New Hot Student Amenity
Digested from National Real Estate Investor
Lazy rivers may be giving way to gyms and other wellness-centered amenities. Find out why.
Resort-style amenities — such as lazy rivers and rock-climbing walls — that student housing developers have been building this cycle may soon be dropping out of fashion.
National Real Estate Investor’s Mary Diduch reports that some student housing companies are beginning to focus their amenities on studying, health and fitness and the ride-sharing economy.
“The newest generation to enter college — Generation Z, or those born in the mid-1990s — tends to be more environmentally friendly and more health-conscious, shifting the focus to amenities like recycling services and innovative fitness rooms, according to [Taylor] Gunn [of RealPage]” Diduch writes.
Jennifer Cassidy, Senior Vice President of Asset Management at Campus Advantage, tells Diduch that study and fitness are reaching higher levels of demand.
Luxury amenities also can add to construction costs.
“In some cases, resort-style amenities may have also pushed rents up too high for many students, who increasingly bear higher education costs and taking out bigger loans,” Diduch writes.