Video of the Day: Developers Compete for Luxury Student Dorms
As we covered last Friday, developers are making a big play on student housing, building flashy gyms, gaming rooms, resort-style pools and top-of-the-line workspaces. In our Bisnow Video of the Day, CNBC's Diana Olick takes a tour of developer Landmark Properties' luxurious off-campus (University of Georgia) student housing development. If the standard luxury wasn't enough, Landmark CEO Wesley Rogers says he plans to make about 10% of its units "super premium," meaning two-storied townhouses and rooftop patios.
Even though the logic may seem backwards—since when do students have deep pockets?—developers are making serious bank from the student luxury by charging by the bed, not unit, and choosing large, low-tuition universities, leaving more money to burn on sexy amenities. The influx of foreign students also helps with demand.
