Boston Is In A Private Developer Fueled Student Housing Boom
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Boston Is In A Private Developer Fueled Student Housing Boom

18 Apr Boston Is In A Private Developer Fueled Student Housing Boom

Posted at 10:00h in Academic, Student Housing by

Northeastern University Residence Hall

Read the full article: Bisnow
April 18, 2017

 

Boston’s colleges and universities are undergoing a building boom of their own amid the city’s great spike in construction, but some are looking at private residential developments as a way to focus funds and debt on more academic pursuits.

“Towers are coming to Kendall,” Richard Amster, MIT’s director of campus construction, said at Bisnow’s Boston 2017 University Development event Thursday.  MIT is in the middle of a campaign to renew older areas of student housing, like one on Memorial Drive, and bring a new dormitory to Vassar Street on the site of its West Garage parking facility. Kendall’s future towers stem from an upzoning initiative passed in 2013. MIT’s 300-foot Kendall Square tower will feature 478 units of graduate housing…

…“Before Mayor Walsh launched his interest in expanding 18,000 student beds, Mayor Menino was resistant to universities partnering with private development,” said Kathy Spiegelman, vice president and chief of campus planning and facilities at Northeastern University. She said her university was the first in Boston to offer a private residential hall with its 720-bed East Village, built by Dallas-based Phoenix Property Co. It is now partnering with American Campus Communities on an 800-bed, 20-story residence hall. American Campus Communities is the nation’s largest developer and manager of private student housing and was the first publicly traded student housing REIT. With $4.5B in development under its belt, the developer is expected to bring its usual range of student services and amenities to the project.

Read the full article: Bisnow

 

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