Student Housing Business is the voice of the student housing industry.
Issue link: https://studenthousingbusiness.epubxp.com/i/488341
STUDENT HOUSING BUSINESS .COM MARCH/APRIL 2015 95 MARKET PROFILE: COLLEGE STATION, TEXAS Gina Cowart, vice president of marketing and communications with ACC, "we have approved several rate increases." "We love the Aggie spirit," says Cowart. "We have been in the market since 1999 and have seen a lot of opportunity to serve different segments of students with a variety of different prod- uct types – from a freshman resi- dence hall, to townhome units, to garden-style apartments at a vari- ety of affordable price points." Campus Advantage continues to own and manage the property it purchased in 2010, the 1,100- bed District on Luther, built in 1999. When Campus Advantage bought the property, they put on a new roof, repainted the build- ing, as well as added vinyl foor- ing in all units. Though not adja- cent to campus, the community is located on a shuttle route for easy access to the campus. According to Jennifer Cassidy, vice president of management ser- vices with Campus Advantage, the market doesn't feel oversup- plied, but Campus Advantage is nervous about the upcoming year because last year saw the deliv- ery of a lot of new supply, includ- ing Northpoint Crossing and U Centre at Northgate. Nonetheless, the District on Luther saw 5 percent rent growth last year and an occupancy rate of 97 percent. "Going into this year, we understand our leasing pace might be a little slower, but we're targeting a rent growth of 2 to 3 percent due to our foor plan variability." This year The District on Luther will get Fitness on Demand, one of the hottest amenities for ftness buffs, a video system that allows people or groups to call up an instructor on a screen to perform various ftness routines. Campus Advantage prides itself on its residence life. "You're getting an experience when you live with us, more so than just an apartment," says Cassidy. "On such a large property you really have an opportunity to create that community environ- ment. We provide a ton of dif- ferent programming each month, including social programming, philanthropic events like Relay for Life, even classes about how to understand your credit report and building a resume." "We have a positive word of mouth in the market that it's a fun place to live, and that it's a place to live that when you leave, hopefully you have gained some- thing as person," she says. sustaiNabiLity Developing student housing on and around Texas A&M; contin- ues to be a good bet as the univer- sity undergoes explosive growth each year. With few barriers to entry and a population that has no signs of stagnating, a product that appeals to the student hous- ing needs of Aggies will continue to be in demand. SHB Partner with Pavlov Media Become neighborhood royalty Royalty always stands out. Being the best means giving them the best of the things they really care about. And great Internet is at the top of that list. Pavlov Media's fiber optic network and Gigabit Internet take you far above the competition. When you partner with us, you're no longer just a place to live--you're the place to live. Learn more 800.677.6812 sales@pavlovmedia.com pavlovmedia.com TM