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Not your parent's dorm: Student housing gets more elaborate (and expensive)

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Not your parent's dorm: Student housing gets more elaborate (and expensive) Not your parent's dorm: Student housing gets more elaborate (and expensive)

Not your parent's dorm: Student housing gets more elaborate (and expensive)






The high-end world of student living can include jacuzzis, sand volleyball, and a more adult lifestyle
With students settling in on campuses across the country this month, it didn?t take long for "dorm goals" to become an online distraction. Images of Ole Miss freshman roommates Lindy Goodson and Abby Bozeman showing off their redecorated dorm room?filled with over-the-top style and white carpeting that resembles a pile of cotton balls?went from Buzzfeed to viral hit last week. While it may be easy to laugh, the two dorm decorators aren?t necessarily outliers in terms of making a greater investment in their campus living arrangements.
Dorm life, and college living, has experienced an upgrade over the last decade. Student expectations have risen, due in no small part to the rising cost of higher education, including an average $10,138 to $11,516 annually for room and board, according to the College Board. That can be enough for a condo or apartment near campus in many places, an increasingly common solution. This rising price tag means parents and their college-age kids are spending more on living expenses and dorm decor than ever before, while schools (and independent developers) are creating more high-tech, high-design dorms to provide a better college experience (and justify rising costs).
The days of cinder block walls and drab dorms with bunk beds are making way for a style that could be described as "adult lite," with upgraded dorms on campus, and privately run, well-appointed student housing facilities nearby, which rival starter apartments in big cities, even offering amenities such as jacuzzis and hot tubs.
"Five or ten years ago, it was usually a double-loaded corridor made out of cinder block," says David Belt, a developer and founder of Macro Sea whose recent projects include the G.27 Global Institute, an upscale student housing facility in Berlin that transformed a former car radio manufacturing plant. "The new thinking is, let?s make it more like an apartment. This is a great place to live. We have lounges and kitchens, and they?re not just student amenities, they?re amenities for people."
Filled with contemporary and vintage furniture, the G27 project paints a very idyllic picture of what student life can be. But new, more upscale living isn?t just found overseas. A combination of universities seeking to cut costs (and focus funds towards programming and education), expanding urban campuses, and higher expectations from coeds who grew up in an era of social media and customization has created a booming private development industry for student housing worth more than $4 billion annually. American Campus Communities, the largest player in the game, made $186 million in the second quarter of 2016, and has seen shares skyrocket 44 percent over the last year, according to a recent Bloomberg report.
This trend hasn?t touched every student, or every campus, and despite fancier, ...


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Fuente de la noticia: curbed
Fecha de publicación: 23-08-2016 21:49
visto: 19

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