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Oh ok. I haven't been that way in a few weeks and saw it this morning when I was on my way to work.
Ah. I kinda figured. Yeah they are moving forward in building stinking student housing instead of regular Housing that won't empty out for 6 months out of the year.
Ah. I kinda figured. Yeah they are moving forward in building stinking student housing instead of regular Housing that won't empty out for 6 months out of the year.
Let's be honest, while that particular plot is well-positioned for market rate housing, developers simply aren't jumping over one another to build it in Columbia. Sure, there are a handful of examples around town, but projects like Kline still haven't broken ground. Meanwhile, student developers have clearly decided that the market is not oversaturated and are now reviving/proposing new projects. Considering that we were all just complaining about the number of surface lots in the Vista and Downtown, I think we should just take the development win. More people living and paying taxes within city limits is a net positive.
Let's be honest, while that particular plot is well-positioned for market rate housing, developers simply aren't jumping over one another to build it in Columbia. Sure, there are a handful of examples around town, but projects like Kline still haven't broken ground. Meanwhile, student developers have clearly decided that the market is not oversaturated and are now reviving/proposing new projects. Considering that we were all just complaining about the number of surface lots in the Vista and Downtown, I think we should just take the development win. More people living and paying taxes within city limits is a net positive.
I have heard that these student housing developments that are popping up are nice (Never been inside one) I would imagine that if the market were to become saturated that they could be easily converted into market rate apartments? Some of these types of developments in other cities have small rooms say four to a suite and larger common areas in the suite and on the halls along with game rooms etc since most students want to socialize and don't need as much personal space.. Those type of developments may be harder to retro fit into market rate .. but not sure if that is floor plan/format for most of the developments in Columbia.
I have heard that these student housing developments that are popping up are nice (Never been inside one) I would imagine that if the market were to become saturated that they could be easily converted into market rate apartments? Some of these types of developments in other cities have small rooms say four to a suite and larger common areas in the suite and on the halls along with game rooms etc since most students want to socialize and don't need as much personal space.. Those type of developments may be harder to retro fit into market rate .. but not sure if that is floor plan/format for most of the developments in Columbia.
The developer for the Edge said that if the market were to change for student housing, then it would be much more feasible to just lower rent costs instead of converting them into single family apartments. If a developer is more willing to lower rent instead of converting them and having tenants all year long, then I would guess making that change is too expensive for the foreseeable future.
Ah. I kinda figured. Yeah they are moving forward in building stinking student housing instead of regular Housing that won't empty out for 6 months out of the year.
Most students who live in this type of housing are full-time residents of the city, and they pay rent for 12 months. Yes, many may take some time over the holidays to go home, but many return in a short time, just like regular folks.
Most of the ones I have been in are like a normal apartment but each room has its own lock and some of them they all have their own bathrooms in each room while others share common area ones still in the same apartment.
Mines of this style would be super easy to convert to single family. Those are typically built in a more apartment like style though. Not strictly a dorm style but considering most of these are high end / luxury student housing I would imagine they would be built more in a way they could easily be converted.
The developer for the Edge said that if the market were to change for student housing, then it would be much more feasible to just lower rent costs instead of converting them into single family apartments. If a developer is more willing to lower rent instead of converting them and having tenants all year long, then I would guess making that change is too expensive for the foreseeable future.
The reason is rent per square foot. A 1,200 square foot four-bedroom student unit rented at $849 per room is 3,396 per month or or $2.83/sq ft. A 600 square foot one-bedroom unit rented at $1,149 per month is $1.91/sq ft. A $1000 square foot two-bedroom unit rented at $1,399 is $1.33/ sq ft. The same 1,200 square foot four-bedroom student unit rented at $599 per bedroom is $1.99/sq ft.
I have a friend in Charlotte who is well past his undergrad years who lives in a residential complex like this not too far from UNC-Charlotte along with two other "dormmates" who are also not college students. While these types of developments are marketed more towards students, in some cases the general public are also increasingly signing up as tenants in such developments. And it's not always about expenses; sometimes it's just about single people wanting a living experience that's somewhat more communal in nature.
recently viewed a great arrangement for two roommates.
Front door opens into a living room. Beyond the living room is a kitchen, small dining area, and laundry area. Short hall on each end of the living room leads to a bedroom on each side and each bedroom has a full bath. Great arrangement for two and could squeeze in 4.
I have a friend in Charlotte who is well past his undergrad years who lives in a residential complex like this not too far from UNC-Charlotte along with two other "dormmates" who are also not college students. While these types of developments are marketed more towards students, in some cases the general public are also increasingly signing up as tenants in such developments. And it's not always about expenses; sometimes it's just about single people wanting a living experience that's somewhat more communal in nature.
I have a younger relative that was in college a few years back, and I was wondering how she was able to stay in the student apartment complex off Bluff rd. She told me that they had a certain amount of years (I think 2 years) of buffer time to live in student housing until she had to move.
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