United Development Corporation

Davie,

Student Housing Market Study And Market Study Update — Davie, FL

In 2009 United Development Corporation engaged B&D to evaluate demand for a student-focused housing project that would target three institutions in Broward County. We were tasked with examining the existing conditions at each campus with respect to its housing inventory, demographic composition, enrollment trends, and off-campus market conditions. Our work consisted of: student focus groups and interviews to gain qualitative data on housing issues; a demographic analysis to understand the makeup of each institution; an off-campus market analysis to assess the competitive environment; and a model to project demand for housing. Our research and analyses revealed enough demand to move forward with a project of up to 500 beds to be phased in over time, allowing for lease-up and institutional growth. We were retained again in 2012 to update our original market findings.