While the housing market has been a point of concern for many people recently, the student housing market should remain stable, city and university officials say.
“I’ve always believed the strongest student market will be close to campus, and I don’t see it moving in any significant way outward,” said Jim van Ravensway, director of planning and development for the city of East Lansing.
The main reason that students are driven to further locations, such as the Chandler Crossings apartments, is because the newer apartments offer more amenities than the older units, he said.
However, the new Campus Village apartments, 1151 Michigan Ave., near campus have a waiting list, and the East Village project is planned to replace student housing in the Cedar Village area with newer units, van Ravensway said.
“I see more redevelopment over the next 10 years occurring around campus,” he said.
More students would move closer to campus if possible, as long as the pricing was not outrageous, said communication junior Justin Howe.
“I guess a lot of people out here have money,” he said. “But a lot of people will go to Chandler Crossings — with a bus system, it’s not a problem.”
The increase in price for off-campus living and the poor financial market might encourage more students to live on campus, but it’s a personal decision, said Vennie Gore, assistant vice president for Housing and Food at MSU.
“The question students will have to ask themselves is how do they provide the best value for what they’re paying in these times,” he said.
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