The arms race in the student housing industry is hard to ignore. As millennial and Gen Z lifestyles come into play, we’re seeing more and more developments that make student housing feel like a luxury hotel or dream destination. As well, developers are increasingly leveraging sophisticated rooftop designs to wow students, and add tens of thousands of dollars in revenues.
In this post, we discuss how as the bar for student housing continues to rise, developers are finding great success in beating the competition by offering thoughtfully designed and integrated rooftop amenities in new student housing projects in Utah.
This is the fifth article in an ongoing series exploring some of the most significant issues relative to student housing developments in Utah. The goal is to provide valuable insights that can guide developers in creating upscale outdoor environments for students that will result in higher returns on investment (ROI). Follow the links below to read all the articles in the series.
Follow the shortcuts:
- How Amenities Have Changed the Game in Student Housing Development in Utah
- 5 Amenities that Will Take Your Student Housing Development from Dull to Brilliant
- How Can Developers Make Their Student Housing Projects More Competitive?
- Looking to Attract Millennials to Your Student Housing Development in Utah?
- Rooftop Amenities: A Must-Have in Today’s Student Housing Developments
- Developers: Your Student Housing Project Needs an Outdoor Amenity Specialist
- Student Housing Amenity Trends to Keep Occupancy Rates High in 2018 [and Beyond]
- Tips for Developers to Avoid Going Bust in Utah Student Housing Boom
- 10 Reasons Why a Landscape Architect Is a MUST for Student Housing Developments
- What Are Architects Missing in the Design of Student Housing Projects?
Well-designed rooftop amenities add value
Rooftop amenities are catering toward millennials’ desire for the ultimate college experience, which is taking the form of terraces complete with infinity-edge swimming pools, hot tubs, fire pits, outdoor lounge areas, and grilling pavilions, which promise endless options for entertainment.
Let’s take a look at how state-of-the-art rooftop amenities add value to your student housing development.
They sell a lifestyle.
More than any other type of multifamily living, student housing is about selling a lifestyle. At this point in their lives, residents want to feel a part of their community. By providing the right amenities, properties can promote interaction and connections among students.
Living at a property with high-level outdoor amenities give residents the opportunity to organize gatherings, and in turn, increases the exposure of your property. Rooftop amenities in student housing, in particular, are a great opportunity for residents to congregate in an exclusive environment, invite friends, and find comfort and camaraderie in their apartment living.
They pull from what’s already working.
Pulling inspiration from some of the world’s fanciest resorts and hotels, architects and developers have discovered that the same luxury rooftop amenities are just as easy to implement in student housing. Elegant terraces, hi-tech study rooms, stunning and functional gardens, and spa-like gyms make student living incomparable to past generations.
They address the problem of limited space in the urban core.
As student housing continues to pop up in the urban core, space for amenities and recreation is greatly limited. Rooftop amenities are an excellent utilization of otherwise dead space at the property. When an apartment sits in a dense urban area surrounded by no available green grass or available land, developers must get creative. The only available space may be on the roof for some properties, so why not take advantage?
The rooftop amenity trend in student housing developments is clearly one to stay —and, although it requires an upfront investment, making the use of the rooftop space attracts higher paying residents and makes your property stand out among the rest.
In the end, it’s about residents having a place to congregate and socialize in an exclusive setting. Developers are tapping into this need with innovative and inviting amenities that speak to this generation’s interest and lifestyle.