Andrew Stark Urges Practicality In Student Housing
Campus Evolution COO Andrew Stark says the best place to build a student housing facility is where the institution has a good enrollment growth and a high graduation rate, and issues good diplomas. Places like College Station, TX, and Gainesville, FL, fit the bill.
Andrew likes that the student housing sector is growing—it’s still young but maturing. There is a lot of opportunity still in the market. Many developers, Andrew says, are looking to build but not hold, but investors want to hold. That’s where Andrew’s focus is: whether or not the deal is good for investors.
Andrew says that students like amenities, so they provide some, but Campus Evolution doesn’t go over the top because there is no benefit to investors. Besides, not all students can afford the super-luxe resort-style facilities. They’re already graduating with record debt—they don’t need four years of high rent piled on top of that.