Although the project isn’t finalized, some think it may be located on Scott between Tuam and Drew street. Being built for 242 units, I estimate it will have at least 500 beds. It sounds like it will be more affordable student housing.
Lower project costs that result in lower rents can be a boon to communities during difficult times.
CIVE, for example, is working with Global Student Housing LLC on the 242-unit University of Houston student housing project, which has been praised by city of Houston officials, according to Domloj.
“This is a privately owned project of a client and we’re working with them to keep biased interests out of the picture,” Domloj said. “We performed a lot of value engineering to deliver the project at a certain amount and, in return, the client committed to be at 70% of the rent that competitors are charging to pass on the benefits to the students. As construction prices keep going up and the pandemic affects the economy, it’s harder for people to afford rent. That makes value engineering a benefit to communities that want to have affordable places for people to live.”