As university enrollment steadily grows across the U.S. so does the need for safe, accessible student housing – from Division 1 residential campuses to community colleges that don’t offer purpose-built student housing. Academic institutions are fighting for dollars and cautiously evaluating the merits of on-campus housing and internal funding. This creates great opportunity for private student housing development and financing.
Annex Student Living, an student housing developer based in Indianapolis, asks:
- Do you miss out on recruitment because there’s no affordable student housing near campus?
- Do you want to make it as convenient as possible for your students to get to class?
- Do you see the value in offering your students a “complete ” college experience?
“We specialize in bringing the feel of big campus housing to smaller collegiate communities,” says Annex CEO Kyle Bach. “The Annex Student Living team works closely with school and community partners to develop and execute exceptional student housing products.”
Student Housing Makes a Difference in Graduation Rates
As many as 1 in 3 freshmen won’t make it back for sophomore year, often due to financial troubles and feeling disconnected from the college community. The community feel and support system that The Annex offers is an important piece of keeping students engaged.
Each Annex development is strategically planned and executed to ensure a finished product that is cohesive with the goals and values of the universities and communities we serve. The ultimate goal is to enhance the culture of each school, provide a vehicle for economic development and provide an unforgettable college experience for the students we accommodate.
Every development begins with a feasibility study which typically includes the following three phases:
Phase 1
Annex representatives will conduct a series of executive interviews with the school and community leaders and review the area’s multi-family housing climate. Also, a thorough analysis of the school’s common data set will be completed, such as enrollment, demographic and in-migration data. Annex can then determine the potential capture rate of housing residents. This requires a moderate amount of cooperation from the school.
Phase 2
If Phase 1 findings have a positive outcome for housing, Annex will conduct an online survey of potential residents and their guarantors to determine what apartment types and pricing would appeal most. We will ask for additional demographic data and also preference for apartment and community amenities. This will help Annex to determine the size of the potential development and it characteristics. This requires minimal time from the school’s representatives.
Phase 3
Annex conducts focus groups to acquire additional qualitative data and further define what will make for a student housing development that the school, students, guarantors and community will embrace. Annex also may complete an economic impact study so the development team may make more informed planning decisions. This requires minimal time from the school’s representatives.
Complimentary Feasibility Study
Members of the American Association of Community Colleges are being offered a complimentary Phase 1 study, valued at $5,000. Simply complete the form and an Annex development representative will be in touch. If the study proves positive for student housing, you may be eligible for a complimentary Phase 2 and 3 studies as well, for a total value of up to $20,000. Not to mention, student housing is an excellent economic opportunity for your school, as well as a vehicle to improve student recruitment and retention.