Smart + Secure Mar24

Smart + Secure

Twenty years ago, mobile technology rarely made an appearance in university dormitories. Today, technology anchors both private and communal spaces in student housing. New developments depict the rapid advancements—and changing expectations–around mobile technology in the industry. Connectivity The 2017 NAA Student Housing Conference tackled the concept of wireless connectivity in university residences. Student housing should accommodate internet speeds of at least 25 MB per student per second, proposed Faith Hawks, AIA, LEED AP, Principal, at Marks Thomas Architects. That may seem excessive at first until you consider just how much bandwidth the average student consumes. Hawks explains that students are now using an average of 10 Wi-Fi devices—at once. In addition to the expected devices such as a smartphone and laptop, many students also use a tablet, smart TV, gaming consoles, smart DVD/blue ray player, and wireless speakers. Students even strap Wi-Fi ready devices to their bodies with wearables like activity monitors and smart watches. Pile those devices on top of smart home features such as Nest-style thermostats and virtual personal assistants, and it quickly becomes clear why 25 MB per student per second is not unrealistic. Even when not actively in use, many programs run in the background issuing updates and exchanging data between devices. But the biggest drains on bandwidth come from streaming videos and gaming. Neither is particularly educational, but both are an integral part of the student life experience. Shared Spaces Outside of their apartments, students’ technology expectations do not diminish. Tech rich communal spaces, including charging stations and smart boards, prove to be a strong selling point for properties. In Rethinking Student Housing Interiors, Rick Reid of HPA Design Group explains, “To be competitive in today’s market means attracting students by providing them with housing they can relate to;...

NAA Student Housing Mar13

NAA Student Housing

At the 10th NAA Student Housing Conference & Exposition, held in Chicago on Feb. 14-15, featured more than 100 exhibitors, two keynote speakers and one expert panel.  More than 860 industry attendees — including marketers, property and portfolio managers, leasing specialists, developers and suppliers — converged to take their student housing game to the next level. While the industry pros in attendance were likely familiar with successful student housing management, but there was still a lot to learn in 16 breakout sessions about the latest trends and technology innovations. Here are some of the highlights: In the entertaining general session, keynote speaker Johnny Cupcakes, dubbed “top innovator in retail” by The Boston Globe, talked with great energy about his off-beat approach to branding that creates fanatic and loyal customers. His colorful line of t-shirts and other apparel frequently feature collaborations with characters and brands that his audience feel great nostalgia for, such as Hello Kitty and Minecraft. Limited edition items sold from bakery-themed retail stores, pop-up shops, and social media scavenger hunts generate excitement, FOMO (fear of missing out) and lines out the door. Leveraging innovation to captivate a tech-savvy consumer group was the focus of “Designing the Student Housing Property of the Future, Today.” Exploring the “Uberfication” of student housing, it is clear that connected buildings with speedy Internet and plenty of bandwidth for gaming and more is expected by Gen Z. Technology rich communal spaces including charging stations and “smart board” interactive touch screens are highly coveted amenities. Speaker Faith Hawkins, an architect, shared that students are now using an average of 10 wifi-supported devices, connected simultaneously. More desirable amenities for student renters include keyless building entry via smartphones, and optimized package and grocery delivery services for a generation that does most...

Student Housing Dec05

Student Housing

Student housing is still a hot sector for investors. Data research specialists at Axiometrics report that many properties experienced rent growth between 2 – 4 percent this year compared to fall 2015. But the writing on the wall suggests that investors may want to proceed with greater caution. The market already has a few cool spots. Community colleges have recorded a decline in enrollment in the past several years. Subsequently, the need for housing near these schools has also decreased. The National Center for Education Statistics’ most recent analysis reports that in 2014, community colleges received 3.65 percent fewer enrollments than in 2015. (This year’s figures are pending.) Since the zenith of enrollments in 2009, enrollment in for-profit schools has dropped by 26 percent. The decline in enrollment could be a trend, a result of several economic factors. But it could also foreshadow more closures and limited demand for student housing. Several campuses have not survived the recent changes. ITT Technical Institute shuttered 13- campuses this year. In the summer, Burlington College in Vermont announced that it will soon close its doors. Corinthian Colleges declared bankruptcy in 2015, leaving more than 77,000 students in limbo. Le Cordon Bleu culinary institute has closed 16 of its campuses and The Art Institute is in the process of shutting down 18 campuses across the US. Not all colleges seem to suffer equally. Community colleges, especially those in suburban and rural setting, offer greater stability. Developers are finding the low land cost needed to reap significant yields per unit. According to data released by Axiometrics, more than 4,400 student housing beds entered the market since 2011.  The National Center for Education Statistics reports that the number of school-aged students (traditionally 25-35) will increase by 20 percent by 2022....

Cabin-Style Dorms Sep19

Cabin-Style Dorms

With an eye towards sustainability and passive building principals, University of Colorado Denver’s prefab, cabin-style dorms connect modern architecture with outdoor living. Just outside Denver, Colorado sits a cluster of 14 micro dormitories outfitted with all the essentials necessary for comfortable, environmentally-friendly cabin living. Created in partnership with Outward Bound, the micro dorm project was developed by 28 University of Colorado Denver, graduate students participating in CU-Denver’s Colorado Building Workshop.   Hands-On and Creative Established in 1991, the Colorado Building Workshop began as part of an effort to pair non-profits with innovative architectural projects. With an emphasis on promoting hands-on skills and creative design, workshop participants use cutting-edge materials and inventive design to produce buildings for disadvantaged communities. Graduate students from CU-Denver’s Studio IV must apply to be part of the workshop. If accepted, they are required to complete 18 credit hours of the Design Build Certificate. The course of study emphasizes both the basics of Design Build and Integrated Project Delivery. The program’s courses cover topics focused on quality and risk management, along with group assignments requiring students to work together to shepherd a project from initial concept to completion. “Collaboration is the core principle of the design-build program,” declares the program’s website. “We are thankful to all the businesses and individuals who support this work and recognize its importance in the local community.” Two Structures, One Footprint Rick Sommerfeld, founder and director of Colorado Building Workshop,  set out with his students to create living spaces capable of coexisting with the land. As a result, their final design make the most of open-air entry-points while also providing basic living quarters. With front-facing decks and floorplans that “sit lightly on the landscape,” each individual unit balances private and community spaces. Surrounded by pine forest and...

StratIS

Tech and college students go hand-in-hand. That hasn’t always been the case for tech and student housing. This sector of multifamily housing has experienced a lag in affordable products that bring energy management and automation into the modern technological environment. StratIS is quickly changing that. BuLogics, a campus leaders in wireless solutions for the Internet of Things, developed StratIS in 2013. StratIS facilitates varying degrees of remote control for energy usage, home automation, and access to residential units. Users can also submit maintenance requests using the app. For unit access, StratIS partnered with Schlage hardware company to create Control Smart Locs with ENGAGE. This technology is ideal for multifamily applications: ENGAGE permits lock control through the cloud-based StratIS app. Through this network, staff can now remotely issue replacement credentials, grant vendor access, and complete audits without entering into the field. StratIS operates in more than 72,000 multifamily and hospitality units in nearly 300 properties throughout the U.S. Student housing units make up approximately one third of StratIS properties. The system has quickly grown popular with student housing owners and managers thanks to three key components: Low Costs Popular energy and access management systems of this type are often cost prohibitive for the owners of smaller buildings. The relatively low cost of StratIS technology opens the arena of advanced management tools to owners of properties with smaller footprints. Quick Returns StratIS claims a two-year return on investment for its wireless solutions. The company also reports a 20 percent reduction in energy consumption before demand response capabilities. Easy Installation StratIS offers ultra-simple product installation. CEO Felicite Moorman told Building Design + Construction, “I also test everything on my seven-year-old, and if she can’t use it, we try to figure out what happened.” The company’s innovative approach...

Dorm Rooms Get Green Apr04

Dorm Rooms Get Green

As demand for modern, energy-efficient and environmentally friendly campus housing continues to grow, colleges and universities are embracing a new era of sustainable student residences. Recent estimates by the DOE, EPA Energy Star, and ACEE reveal student housing represents a huge opportunity for energy efficiency in multifamily housing. With the chance to reduce energy use by up to 30% at new or existing properties, any energy efficiency or sustainability effort is sure to quickly meet (and probably surpass) initial ROI estimates.   Currently, multifamily properties accumulate more than $30billion in energy costs annually – sometimes paid by tenants, but other times falling into the lap of owners and property managers. With an estimated $3.4 billion in energy savings possible, it makes sense for the student housing industry to focus on sustainability. Additionally, sustainable student housing presents an enormous marketing opportunity for property owners and managers: a recent poll revealed 60% of college students believe protecting the environment should be prioritized, and a whopping 76% support policies encouraging energy efficiency (rather than seeking new energy sources) to meet energy demands. Stylish and Sustainable in Seattle Initially conceived as a traditional, multi-story dorm designed to house 130 students, Bastyr University’s 2010 student housing project eventually transformed into a sustainable, LEED certified student village. Located just east of downtown Seattle, Bastyr University prides itself on its position at “the forefront of developing the model for 21st-century medicine.” With a multidisciplinary curriculum focused natural medicine, Bastyr University readily assumed the mantel of sustainable student housing pioneer. Bastyr’s Student Village is comprised of an 11-cottage complex spread out over 12 acres on Bastyr’s 52-acre campus. Each three-story cottage can house up to 12 students who have access to common areas, a central courtyard and a variety of sustainable features...

Student Services Sep09

Student Services

We are seeing dozens of headlines each month that herald the arrival of another luxury student housing community. These ultra-posh accommodations can cast a rather unglamorous shadow on nearby aging properties with fewer resources. If you find yourself in the shadow of the shiny new community down the street, don’t fret. Instead, use that energy to implement creative solutions for attracting student renters. While you might not have the newest property on the block, there is still a pool of quality renters who are in need of your services. Identifying, developing, and marketing those services will be your keys to success. Value Many students are priced out of newly constructed housing, which will send them your way as an alternative. It’s up to you to shine brighter than other listings in their price bracket. Instead of free rent and waiving fees, aim for investments that provide long-term convenience and value. Bundling trash services and utilities with the rent creates a quick, easy payment setup that young adults appreciate. Including appliances with the unit (especially a washer and dryer) is a quick way to add value and convenience for cash-strapped youth. Location Proximity to campus is priceless for students, allowing them to save money on transportation costs and save time. Be sure that your digital presence, print materials, and social media “about” sections include your proximity to local campuses. In high traffic places in the building, post transit schedules and a map of local stops. Responsive Staff Young renters expect online resident services: online leasing, online bill pay, and online maintenance requests are just a few of the conveniences that you can offer to tech-savvy youth. Going digital will allow your team to process applications quickly and efficiently. Conveniently, online services will also free up your...

Luxury Student Housing Aug20

Luxury Student Housing...

Student housing has grown into a $5 billion industry. Colleges and universities rely on private builders for housing, on and off campus. These private builders are best able to equip units with features that appeal to the new generation of student renters while keeping the institutions’ costs low. Yet with the rise of student debt and the accompanying public outcry, the glory days of luxury student housing may be short-lived. The dorms of today are nothing like what I grew up with at my private institution—and I’m barely 30. For freshman year, I shared a tiny, cinderblock room with a roommate. 15 rooms on our hall shared a commercial-style bathroom. If it weren’t for the laughter in the halls and all of the pretty decorations, we could’ve been confused for inmates. While the accommodations improved as I gained seniority, even some of the nicer rooms at my college pale in comparison to new student housing. Today’s freshmen face serious temptation. Common amenities are leaning more towards the luxurious than the utilitarian: saunas, steam rooms, tanning beds, infinity pools, lazy rivers, maid service, dietary-savvy restaurants, and onsite clubs are not uncommon in student housing throughout the nation. The College Board reports that the average cost of room and board in 2014-2015 was $9,804 for state schools and upwards of $11,000 at private schools. Students are high-risk tenants, so housing comes at a price, especially if you want a nicer lifestyle. Just how are students paying for these high rents? They aren’t. That’s part of the problem with the public’s reception of student housing. Students are digging themselves into debt at backbreaking rates. Most students aren’t working their way through college in the traditional sense. They aren’t working directly to cover expenses and graduate debt free. If they aren’t receiving...

NAA Student Housing Apr02

NAA Student Housing

As a college student,  my family and I would always invite a few international students to our home during the holidays so that they wouldn’t be stranded on campus alone. It was one of the many times that I realized how tough it was to be a student abroad. The 2014 National Apartment Association (NAA) Student Housing Conference and Exposition addressed the unique needs of the international student population during a rare and exciting breakout session. Student housing providers got to bounce ideas around that could improve client relations, marketing, and workflow. Client Relations Many housing providers are hiring Millennials, especially when it comes to social media outreach. It’s also a good idea to keep a few international students or professionals on staff. They provide unparalleled insights into the needs of international students. They can also come in handy as translators. While it is important to treat students fairly, it’s also worth noting that international students are more likely to refer friends, pay their rent on time, and to renew their lease than American students, reports Lauren Boston, staff writer for NAA. Being mindful of international students when planning community events, marketing strategies, and resident retention endeavors will pay off in the long run. Marketing New developments attract students with everything from party-sized Jacuzzis to state-of-the-art media rooms. It can be tough for existing buildings to compete with the glitz but there are several features that international students value more: access to bus routes, proximity to an international farmers market, en-suite kitchens for preparing dishes from back home, housing during the holidays (some campuses oust students during breaks), and 12-month leases will earn more points with them than a fancy sundeck.  It’s also a good idea to mention any programs that help residents get...

Yardi Voyager for Student Housing Mar04

Yardi Voyager for Student Housing

The power and versatility of Yardi Voyager®, the Yardi Multifamily Suite™ and the Yardi Marketing Suite™, are now available for marketing and managing student housing properties. Yardi Voyager® for Student Housing integrates every aspect of student housing management, from marketing and roommate selection to online payments and resident services.  Students can easily discover properties with RentCafe™, which harnesses social media networking, and begin an online application process that includes setting roommate criteria, choosing unit types and completing screening and credit checks.  Yardi Voyager for Student Housing accommodates nonstandard leasing periods, such as semesters and quarters, along with standard lease arrangements. After moving into a property, an optional RentCafe portal supports online services such as payments by students or their responsible financial parties and work order submissions.  The solution’s compatibility with Yardi Marketing Suite and Yardi Multifamily Suite for call center, resident screening, maintenance, and utility billing and energy management lets managers of multiple property types easily add student housing to their portfolios. “This is a dedicated housing module that makes residential life easier for property managers, students and their parents or guardians.  Yardi Voyager for Student Housing supports social media marketing and other online sources favored by students and communicates by email with applicants throughout the application process.  Students living at the properties can obtain quality-of-life services through RentCafe, and convenient online tracking is available to parents and other responsible financial parties,” said Dan Campbell, vice president of government services for Yardi. For more information, visit...

Student Housing Trends Aug22

Student Housing Trends...

Gone are the days when undergraduates settled for shared rooms, communal showers and a weary daily commute to classes. Today everything is about sustainable lifestyles and people’s ability to choose between a wide array of housing options, according to individual needs and preferences. Rising incomes, improving standards of living and a diversified housing inventory have allowed the emergence of a new generation of students who express higher expectations of their collegiate housing. Moreover, parents acknowledge their children’s need for personal space and are prepared to shell out more in order to ensure a flawless college experience for their offspring. Infinity pools, entertainment corners, state-of-the-art fitness centers and electronic vehicle charging stations are not an uncommon sight at modern student-housing facilities. Looking at the Texas housing market, Brent Little, president of Fountain Residential Partners, says that there’s a huge demand for luxury living right now, from both students and their parents who are willing to pay extra for top-notch amenities. “There’s a tremendous market for students looking for these accommodations,” Little told the Dallas Business Journal, adding that high-end accommodations typically follow urban markets. Proximity to the campus or town center is frequently cited by students as a decisive factor when balancing between two housing options, as well as accelerated internet connectivity. American Campus Communities, the largest owner and manager of high-quality student housing communities in the United States, announced it will provide unprecedented internet service of up to one Gigabit per resident at the new The Callaway House Austin (pictured at right), an off-campus community that will serve students attending The University of Texas at Austin. Gigabit speed is equivalent to 1,000 megabits per second. “We understand how positive living environments can propel students’ college success and we have made it our fervent mission...

Student Housing Jun18

Student Housing

Student housing has grown out of its niche sector. More universities are turning to third party firms to meet the needs of increasing enrollment, and multifamily firms have been responsive.The demand for student housing is high – a recent National Multi Housing Council white paper revealed that a 38.7 percent increase in university enrollment over the past decade is creating a shortage of on-campus housing nationwide, and students who can’t find dorm accommodations naturally spill off campus to other options. “States aren’t keeping up with building housing for the students that they’ve got. That presents a huge opportunity for private developers,” Jim Arbury, vice president of student housing for the NMHC’s National Student Housing Council, said in a recent interview with National Real Estate Investor. Promising yields draw investors in droves, but also bring unique challenges for housing providers. Those that experience the most success understand what separates student housing from other multifamily housing projects. Today’s young renter requires a balance between private and public space, with living arrangements that promote social interaction but also offer quiet spaces for study and privacy. There is also an emphasis on technology and security. Meeting these needs forces a different approach to housing designs, amenities, and staffing than the methods use in traditional apartment communities. What Students Want A report by J Turner Research and the National Apartment Association reveals that suites—with private bathrooms attached to each bedroom—are considered necessities by 40 percent of student renters and 62 percent of parents. Spacious bedrooms with study nooks or built-in desks, ample storage, and in-unit laundry appliances also topped the list of desirable features in housing. Award-winning developments offer multiple pools, 24-hour fitness centers, gaming rooms, theaters, coin-free payment options for laundry services, and an active staff that hosts multiple community events, group classes and excursions, and other resources for social interaction amongst residents. Security features have not been overlooked by students or parents. A growing number of student projects are equipped with heightened security measures such as near field communication (NFC) and radio frequency identification (RFID) locks. Such features allow students to use mobile devices to control access to their bedroom doors via an electronic receiver. This minimizes the need for keys and can allow students to lock doors quickly and remotely. The conveniences of modern technology cannot be overlooked with today’s student renter. Online leasing services are growing in popularity and availability across university communities, since rental decisions are often made remotely before arriving in the college community. Students likewise enjoy the ease of submitting payments online (particularly in cases where the parents are making payments on the student’s behalf). Utilities, garbage, and other such fees should be included in the monthly rental statement, with just one payment necessary, to simplify monthly transactions. It is also vital for student housing to include the electronic infrastructure necessary to support the best available internet speeds, data demands, and coverage for the most popular wireless carriers in the area. A Presta Electronics poll found that within 5 years, 22 million students will take classes online. The poll also revealed that 73 percent of students say they “cannot study” without technology. And 38 percent claim that they cannot “go ten minutes” without checking email or using a smartphone, tablet, or laptop. Look Before You Leap, Then Look Again As architects, builders, and developers scramble to establish themselves on firm ground, many have turned to student housing. According to Jamie Wilhelm, executive vice president of public-private transactions for American Campus Communities Inc, recent projects are cited to yield returns between 7 and 8 percent. As appealing as those figures may seem, student housing is not a sector for novices. Even seasoned firms encounter a myriad of challenges. The cost of building to students’ demands doesn’t always mesh with efficiency standards or price points for universities, prompting creative resolutions. Mixed-used facilities are increasingly common in student housing. Services—such...