Ted Rollins Addresses the State of Student Housing
Ted Rollins addresses the state of student housingIn a recent interview with Multi-Housing News, Ted Rollins speaks to the current state of student housing.Rollins cites that a great deal of the housing stock on campus was built during the original baby boom.Therefore, it now needs to be replaced or renovated.At the same time, this is probably one of the tightesttimes for state higher education budgets. Statisticsshow that thirty-seven state higher educationbudgets have experienced a net decrease year-over-year. Therefore, budgets are tighter.“People who are running the schools are starting tolook at different ways that they can manage theircapital allocations,” said Rollins. “What we’re seeingis that schools are being more careful with theircapital, more thoughtful about what they use theirbond allocations for, and they’re seeking privatesolutions to things like housing, which is not alwayscounted as a core asset.”Despite the budget issues, Rollins is optimistic and said that the student housing market is in good shape.“There are a lot of things driving that. If you look at it, it really is not only the children of the baby boomers—which is kind of tailing off a little bit now—but you’ve got longer average stays in college because a lot ofpeople are going for five years instead of four, and there’s even some six-year people there for anundergraduate degree,” said Rollins.“You’ve got a higher percentage of students in high school graduating, and of those graduating high schoolthere is a higher percentage of those attending full-time college. In addition to that, you have a meaningfulamount of foreign enrollment.”Rollins explains the reason for that is many of these state schools can take foreign enrollment out, counting itout of their state enrollment guidelines.“If I’m a state school, I have to balance my in-state and out-of-state attendance, and foreign enrollmentdoesn’t count against that,” said Rollins.