Wayne State University
Detroit, MI – Client: The Union at Midtown
Campus Advantage was engaged in early 2008 by a private developer to perform a market analysis and feasibility study for a site in Detroit near the Wayne State University campus. Campus Advantage evaluated the on- and off-campus housing market, analyzed historical enrollment trends and future growth at the University, and conducted informal interviews with students to determine the potential demand for a new student housing development.
As a result of the study, Campus Advantage came to the conclusion that the Detroit student market could absorb the proposed project, given its superior location and lack of other purpose-built product in the market. The Wayne State market could be characterized by properties that were built in the early 1900s and contained 100 beds or less. One- and two-bedroom apartments were most prevalent, with only two properties offering a three-or four-bedroom option. Furthermore, very few properties included any amenities, furnishings, or an all-inclusive rent option. The Union at Midtown, with 140 beds on three levels and ground-floor retail, offered a unique living experience for students in this market and leased to 90% before opening in fall 2011.