Student Suites

Columbus,

Student Housing Market Study

In 2013 B&D was selected by Student Suites to evaluate the demand for a housing project that would target Columbus State Community College students. The proposed project site was adjacent to the campus and would contain apartment-style beds, along with potentially a fitness center, social lounge, study areas, and parking. With 17,500 students and no on-campus housing at Columbus State’s downtown campus, Student Suites anticipated a target market of at least 5,000 students. Our work plan included an off-campus housing analysis to assess the costs, amenities, occupancy rates, and other key metrics of the area adjacent to the proposed site. Cost comparisons were made between the project and all existing nearby communities, and a student housing demand model was developed that projected demand for the project based on enrollment data and off-campus market conditions. There was a wide variety of off-campus housing options available for students in a range of prices, amenities, locations, and quality. While there were several purpose-built student housing communities within five miles of campus, those projects targeted students from the Columbus College of Art & Design and The Ohio State University, while the remaining housing consisted of smaller scale apartments with few or no amenities. Based on conservative occupancy and capture rates, we found sufficient demand for the project in a mix of units.