Zoning Driving Change at UT Campus

Austin Student Housing

Austin TX- It’s been just under 2 years since the city decided to change the zoning regulations for West Campus and if you have recently driven around these parts you will notice major construction on virtually every corner. The new mega apartments mix student housing with commercial, a pair that I welcome with open arms any day. Within just 2 years of these zoning changes there have been 12 projects break ground, which amounts to 1,009 new apartment units and roughly 2,700 new West campus residents. One of the main goals in the zoning changes was to decrease the cost of student housing near campus, which unfortunately did not occur and I do not see happening in the future. Each of these new projects is considered high-end living and comes with an expensive price tag.

From an investing point of view one of the main questions everyone seems to be asking is weather or not these changes will effect the residential investments in Austin. Watching these new buildings get leased out before they where even finished and with the city not letting them include parking in the cost makes me think, no way. There are wealthy people in this world that want the best for their kids and so they give it to them. We see a lot of this at the University of Texas and it’s not a bad thing. It’s life. But this does mean with the trend catching on there will start being less and less “affordable” college student housing near campus. With the number of freshman enrolling every year going up there will constantly be a need for housing where price tags don’t matter because you attend one of the greatest universities in the world, The University of Texas!

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