Construction is one of the industries that has taken the brunt of the economic downturn. But student housing is one market that's remained vital during the recession. The Star Tribune reports on several current projects at local colleges and universities:
"Student housing is an often-ignored niche of multifamily real estate
that's surviving the recession quite well in many instances, especially
when it's connected to schools and universities that have growing
enrollments, like the University of Minnesota.
"Unlike many other types of commercial real estate, investors in the
form of real estate investment trusts (REITs) are putting money into
student housing, and banks are making loans to the builders of such
housing, attracted by their stable occupancy rates and the fact that
rents charged to students have held up well during the recession--in
some cases, even risen."
Read the full article here.