Carter’s David Nelson Discusses Student Housing Market with Michael Bull on Radio
David Nelson, vice president at Carter, recently joined Michael Bull as a guest on his national talk radio, Commercial Real Estate Show (CRE Show) and shared his insight on the student housing market. The show is broadcast from its new studio across 12 U.S. radio stations and is available to listen to online through iTunes and the CRE Show website.
David joined Ron Johnsey, President of AxioMetrics, Inc.; Ted Rollins, CEO of Campus Crest; and Miles Orth, COO of Campus Apartments, for a thought-provoking discussion on the outlook of the student housing industry, covering a variety of topics including tenant demand, new construction, financing and market outlook.
Ron stressed the importance of location and project site proximity to campus, which David echoed in his interview. David said, “The most important amenity is proximity to campus…[you] cannot replace a great location.” Ron also mentioned Texas and Michigan as two growth markets; Carter has projects in both of these locations. David announced on the show a new Carter off-campus student housing project to be constructed at the University of Texas in San Antonio, as well as referenced current development projects at Ole Miss and the University of Michigan in Ann Arbor.
Key drivers in the student housing market were attributed to a number of factors, including increases in the number of high school graduates and full-time college attendees, as well as the increased length of time required to complete college (five years versus four years). International student enrollment at U.S. colleges is also on the rise.
When asked about the differences between building apartments and student housing, David said, “From an urban multi-family perspective, we rely a lot on the fabric and activity centers of the city to provide the night life and excitement for the tenant. In student housing, especially developments that are further away from campus, we have to provide an all-inclusive environment where students can study and be productive students, where they can hang out and have places to have fun without leaving home/campus.”
Click below to listen:
CRE Show Featuring David Nelson – Short Segment
CRE Show Featuring David Nelson – Full Segment
You can also listen to the full broadcast on the CRE Show’s website.