Goldenberg Group, The

Blue Bell,

Student Housing Market Study And Market Study Updates

In 2008 The Goldenberg Group selected B&D to conduct an off-campus student housing market study for Temple University’s main campus. The university wanted to increase its competitive standing in the student housing marketplace relative to existing private apartment properties and maximize the capture of the available market. In addressing this issue, our efforts included an analysis of enrollment trends, a competitive off-campus housing analysis, and a supply analysis of current and future housing at the university. The results of that work were then put into a demand analysis that identified desired unit types and a building program for a group of privately owned properties adjacent to campus. We determined that a new development must provide the desired configurations and amenities and recommended specific rental rates. We were engaged once again in 2011 to update our findings, and then in 2014 to conduct a demographic and off-campus market analyses for the planned Student Residences apartment complex. We identified campus growth and change patterns in the university’s student profile and enrollment, reviewed on-campus housing, researched the off-campus market, and evaluated the supply and demand for new student-focused apartment beds. Working in conjunction with Temple’s long-range plan, we identified a student housing gap of approximately 3,000 beds, and that students considered campus edge properties to be part of the greater campus community. The results demonstrated how the planned development would integrate successfully with the university. The Student Residences opened in 2014. The 832-bed, 320,000 SF, $100 million apartment complex includes retail and parking.