Developers Are Building Student Housing For Young Professionals
Developers are building for Millennials who wish they never left college. New apartments are popping up around the country with the perks of student housing, but without those pesky classes.
In college neighborhoods like University City PHL, Tempe, AZ, and College Station, TX, residential units geared towards young professionals are in the pipeline, with amenities like roof decks, heated saltwater pools, fire pits and outdoor TVs.
“In a way, it’s almost a continuation of the college experience,” Bruce J. Katz, Brookings Institution’s global urbanization expert, tells the New York Times.
Rents are high in the new digs, generally over $1,500/month—enough to keep out unwelcome undergrads, despite the buildings’ replication of the college life.
“We’re not going to have bicycles hanging off of the balconies," Opus Group senior VP Lawrence Pobuda says, "and we’re not going to have music blaring and kegs rolling down the hall.” [NYT]
