News
Hot Market Alert: University City
August 8, 2012
| With the completion of the its first hotel—a Homewood Suites in University City—Philly-based Campus Apartments says it's planning a combination of apartments and office space for the nearby phases two and three, with exact ratio TBD. Will there be demand for it? (Will people love it when then know what it truly is? See, buildings deal with the same emotional turmoil we do.) |
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| There’s demand for high-end rental apartments serving grad students and young professionals in University City, Campus Apartment senior director of investments Jon Chopp tells us. As the education and medical fields have grown within the area over the last five years, so has the need for luxury housing options. In terms of office demand, the medical institutions within University City have grown significantly over the last decade. Even during the Great Recession there was steady job growth within University City due to the strength of eds and meds, so Jon expects the demand for office space to grow, too. |
