United Development Corporation

Oswego,

Student Housing Market Study And Update — Oswego, NY

In 2007 United Development Corporation engaged B&D to evaluate the demand for new off-campus student apartments at State University of New York at Oswego. We were tasked with examining existing and future market conditions and quantifying demand for the new proposed housing project. At the time, most off-campus students rented converted single-family houses with few amenities in terms of community space, programming, and recreation, and rent did not include utilities. Our work included: student focus groups/surveys; a study of industry trends and the local housing market; an analysis of the off-campus housing market; and an analysis of the projected demand for new housing. We determined that there was a demand for high-end student apartments and that future development of non-student projects in the area could create demand for additional housing and absorb existing vacancies, driving up rents. Our analysis demonstrated a demand for approximately 414 beds. We were retained again in 2010 to provide updated information.