Developers want in on DFW student housing

DALLAS-FORT WORTH – One of DFW’s hottest property types — student housing — is on the rise thanks to pent-up demand and enrollment increases at local universities.

Schools are transitioning from being commuter-based to having students live closer to campus. That movement has caused an influx of private developers delivering luxury student housing communities that can bring comparable Uptown rents (in a suburban area) to the property owner.

• Texas Christian University — The university’s strategic goal is to increase the percentage of students living on campus. The school is developing Worth Hills, a project that will bring 400 new beds to the campus this fall.
• University of North Texas — In 2012, the university housing occupancy increased to 99 percent, and room and board costs increased by 18.7 percent. In 2012, privately-owned student housing occupancy was 94.1 percent and rent grew 1.4 percent.
• University of Texas at Dallas — The university is set to complete a $53 million, 600-bed student housing facility by August 2014. There are no private student housing projects under construction within a mile of the school. The university’s 3,843 beds are fully occupied.
• University of Texas-Arlington — From 2008 to 2012, the university’s enrollment increased 31.1 percent, or 6.2 percent a year. The supply risk is rated as low with no new on or off campus housing projects underway. The university regularly has a waiting list for its 4,142 beds available on campus.
• Texas Woman’s University — The school’s enrollment is expected to increase an average of 2.5 percent to 14,090 students by 2017. The university leased three apartment complexes in 2012 — Bent Tree, Lone Star and Austin Place — to help keep up with student housing demand. In 2013, TWU has leased 100 rooms from Quality Inn and Suites.