United Development Corporation

Milwaukee,

Student Housing Market Study — Milwaukee, WI

In 2010 United Group selected B&D to review a preliminary housing concept related to the proposed development of an off-campus student housing property located near Marquette University in Milwaukee, Wisconsin. To complete the market analysis, we adopted the following process: a tour of the project site to understand opportunities and constraints; student intercept interviews to gain preferences; a demographic profile and survey of current housing stock; an analysis of competitive properties and price points; and an analysis of the potential future housing supply. We determined that the quantity of student housing near the university aligned with demand, but we uncovered an untapped demand for new student-oriented housing in the off-campus market that would be desirable if it offered the quality and pricing to match students’ needs. To further assist United Group, we established the factors that drove students’ housing decisions in the market, explained where the proposed development fell short, and recommended improvements to help make the project more feasible.