NMHC's Student Housing Council has released development activity data for the first quarter of 2013 in 25 top student housing markets. This 25-county report lists 360 dormitory and multifamily projects in various stages in the pipeline. Takeaways from the report include:
- Construction of dormitories continued to increase in the first quarter of 2013. 14 dorm projects were started in the first quarter in the 25 counties surveyed, up from seven in the fourth quarter of 2012 and six in the third quarter. San Diego County, home to several major universities, including University of California- San Diego, San Diego State University, and California State University- San Marcos, had three dorms started, the highest amount of any of the counties. Two dorms were funded with Federal dollars for a combined value of $108 million, while the third project was funded with state dollars at almost $21 million.
- Planned dorms will be funded by a combination of private, municipal, and state dollars. Of the 23 dorms in the pre-planning and planning stages, 11 will be funded privately. In contrast with several of the dorms started in the first quarter, none of the planned projects will be funded through the Federal government.
- There is still a lot in the pipeline yet to be started. In addition to the projects that have already been started, multiple projects are planned, both on and off-campus in many of the counties surveyed. Texas State University has one on-campus residence hall in the final planning stages, and there are several nearby off-campus student housing projects in the pre-planning and planning stages as well.
- Further analysis shows that 100 of the 360 listed projects are within two miles of a college campus. The remaining projects are captioned “remote” and are most likely a conventional-type of multifamily development or some other type of facility that is not related to student housing.