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Move Over, Traditional Dorms. Luxury Housing Has Arrived!

The housing is described as an "urban, upscale student housing concept designed to target mature undergrads and grad students."

Elizabeth Hoyt

September 09, 2013

Move Over, Traditional Dorms. Luxury Housing Has Arrived!
The days of stark, boring dorm rooms are gone, at least, at some colleges. Who would choose to live in a room resembling a jail cell when there’s an option for a room with a view – city style? Enter, Campus Crest Communities, Inc., a company devoted to the creation of fully furnished, luxurious dorm accommodations. The publicly traded company, based in Charlotte, N.C., develops such housing to college and graduate students across the United States and Canada.

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Described as an “urban, upscale student housing concept designed to target mature undergrads and grad students,” rooftop pools, tanning beds and fire pits are just a few of the perks these college palaces offer. The first of these campus creations is set in motion to open in the fall of 2014. Where did this concept come from? Well, Campus Crest’s affiliated brands include branding to specific customer bases such as the Residence Inn by Marriott to business-savvy travelers and targeting families for a stay at the Great Wolf Lodge water-park resort.

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Apparently, campus was an untapped market, and Campus Crest fully intends on expanding the options available to students.
The company currently owns 86 student properties, consisting of just over 45,000 beds within the United States alone. Montreal is set to be the first of the company’s international market expansion.

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Each "dormitory" consists of traditional apartment floor plans and their own residence assistant system. While these facilities are usually located right off campus, they offer a dorm-like experience without the hassle of a roommate or having to share a bathroom with another student. All properties owned by the company offer private bed and bath accommodations. Campus Crest Communities maintains that the private housing offers students valid options without financially impacting families – the average rent starts around $500 for a fully furnished apartment, including utilities, Internet and cable. That's not bad - considering that living in a traditional, on-campus dorm usually comes out to around $450 per month, on average. (This number was calculated based on the average cost to live in a dorm per year, per person, divided by eight months.) Private student housing is nothing new, however, Campus Crest has positioned itself to becoming one of the bigwigs (if not considered one, already) in the private student housing industry. Their “full delivery model” offers an efficient way of providing student housing to the market, easily and affordably. If one can afford it, the facilities are brimming with the hustle and bustle of college life. Sport fields and gyms are amongst the amenities galore offered to the students who choose to reside in the properties. One cannot help but wonder, however, if these students being given affordable off-campus options will negatively affect already struggling university systems once they've had a taste of the proverbial silver spoon lifestyle?

What are your thoughts on this luxurious college lifestyle?

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