Adaptive Reuse: Why Consider Converting Existing Buildings into Student Housing
The need for student housing is as steady as ever. How can building owners capitalize on renewed demand?
By Jason Lutz, AIA, NCARB
Senior Associate, Co-lead, Student Housing Studio
Contributing Author, BUILDINGS, May, 2022
The need for student housing across the country is steady as ever, with the National Multifamily Housing Council estimating that the student housing market will grow from 8.5 million beds in 2020 to 9.2 million by 2031. The continued sector growth creates several opportunities for building owners to capitalize on renewed demand.
While new construction development opportunities continue to feel fatigue due to ongoing large scale supply chain and labor challenges, one beneficial strategy for developers and building owners is to consider transforming existing assets into modern student housing through adaptive reuse. CONTINUE READING