As housing costs rise, colleges, universities and developers are teaming up to address a widening affordability gap at their campuses by making housing available and attainable for the population that needs it.
One of the developers leading this charge is The Michaels Organization, which is applying lessons learned in its 50 years of affordable housing development to create student housing dedicated to serving students, faculty and staff who would struggle to pay market rent. Student Housing Business queried Ned Williams, executive vice president of development at The Michaels Organization, about how the company keeps development costs down so these hybrid properties can operate at below-market rent and still maximize occupancy.
