Student Housing Business is the voice of the student housing industry.
Issue link: https://studenthousingbusiness.epubxp.com/i/616872
COMPANY NE WS STUDENT HOUSING BUSINESS .COM NOVEMBER/DECEMBER 2015 35 be remiss if I did not mention all of the useful information I have received from Joe Coyle — he is a visionary in this space! SHB: Do you see student housing facing some of the same issues that multifamily did in its earlier days? Are there similarities? Arbury: It took conventional a longer time to try to avoid over- building, develop professional management, and take govern- mental actions on areas like taxes, fair housing, and the environ- ment to name just a few, seriously. The later development of student housing as a sector has given frms a chance to greatly reduce the learning curve. This is where lis- tening and interaction really come in handy. You don't have to repeat the mistakes of those who have gone before. Don't put your head in the sand or deny facts if they are troublesome. Admit mistakes, cor- rect them, move on. SHB: What have you seen in the industry recently that bodes well for the future of student housing? Arbury: Recently, we have seen a big increase in activity with private sector on-campus devel- opment and management. The question of whether to pursue a college education has come to the forefront because of the incred- ible rise in cost versus infation in general and the bleaker job mar- ket overall. But the state schools remain a terrifc bargain. College has to basically meet three needs of students: learning, maturing, and making life-long connec- tions. These should be the goals of a student housing commu- nity as well. The basic strategic plan of a student housing com- munity should encompass learn- ing, maturing, and connections. It should provide a great atmo- sphere and also develop a sense of belonging to the community via social and sporting events as well as alumni events. Student housing owners and universities need to create places where students take pride in the fact that they live/ lived there. While the amenities race continues, a community is not always going to be the go-to place based on amenities alone. The next logical step is to provide similar housing for young professionals in select major cities. SHB: What's the future for Jim Arbury? What do you have planned for retirement? Arbury: My wife, Grace, and I love doing things together. And we have terrifc children. We live in the beautiful city of Annapolis, Maryland. Student housing will be well served by Brian Veith of NMHC. Next year will be my fnal year as head of a group of fed- eral tax lobbyists who meet for breakfast each week. So, there is still some work to do. It has been a great ride these past fve years thanks to the opportunity given to me by Doug Bibby. Five extra years beyond age 70 to be involved with some of the most interesting, energetic, and brightest people has been rewarding and fun. SHB Blue Vista Capital Management, LLC is a real estate investment management firm with over 43 employees. Since 2003, Blue Vista has made investments nationwide, across many property types, with a gross asset value of more than $6.1 billion. Blue Vista is a leading participant in the Student Housing Industry and has acquired or developed over $1.7 billion in student housing properties, representing 59 assets located on 40 campuses throughout the US. Peak Campus is the 2nd largest private student housing management, leasing and development company in the U.S. Peak Campus is based in Atlanta and is wholly owned by Blue Vista. CONTACT US: Phone - 312-578-0033 Fax - 312-828-0139 Email - fcardelli@bluevistallc.com MAIN ADDRESS: 353 N Clark Street, Suite 730 Chicago, IL 60654 www.bluevistallc.com RELATIONSHIPS – INNOVATION – PERFORMANCE – TRUST – ACTION