OT: 16 Floors Student Apartments Coming Soon - A look at housing at UH

Ron,
I found an article in the daily cougar that the
South Moody tower was closed for fall 2020 due to lack of students. This was partially attributed to the
pandemic at that time too.

Do you know if this actually came to pass or if the
South tower has been re-opened ?

They need to tear those suckers down and hopefully replace them with new towers.

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The Towers opened when I attended UH.

This June I am 74.

Do the math.

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I didn’t know about any dorm closures.

This is the latest design posted by @tristatecoog.


I think they need to change the pinkish red to Cougar red.

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Now that I’m looking at it if they put restaurants and bars in the bottom portion of the garage there it would make elgin the spot to go. It also looks like it’ll be right next to the other apartment building off scott.

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This new private off-campus housing is to be luxury student housing similar to The Icon next door.

On the drawing board is another private student housing to be an affordable choice. By the name Scott Residence, I assume it will be located east of Scott St. between 45 and Elgin. They have cleared a lot of dilapidated houses on that stretch of Scott.

https://www.bizjournals.com/houston/news/2020/12/23/what-architects-are-doing-to-offset-rising-costs.html

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Wow , we’re gonna have tons of housing once all this is done.

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With 242 beds and 30% discount to area housing options, it could put pressure on Haven at Elgin which is expected to have 649 beds.

Actually, the article said Scott Residence will have 242 units which is 242 apartments. Of course each unit will have 1, 2, 3 or 4 beds so at a minimum, I will guess that it will house at least 500 beds.

UH has 47,000 students and most of them live many miles away from campus. Since these private student housings are very close to campus, I’m sure there will be no problem filling them up.

Edit: Scott Residence will be 242 beds. One bed per unit.

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Is this a new add on top of 12k inventory

Yes Scott Residence is on the list above but the number of beds are not specified yet, though the purchase of the block has been made.

Global Student Housing – Houston LLC has purchased a 1.2-acre development site at the intersection of Scott and McGowen streets, Houston, from RSB Ventures Ltd. Brad LyBrand of NewQuest Properties represented the seller in the direct deal.

That’s not nearly as good a location as The Haven which is across the street from the softball field. However, these prices are supposed to be 30% lower. Might work well for grad students? I like that it puts a stake in the ground a few blocks away with nice development.

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It helps improve that area then maybe other good businesses and developments follow and rail helps and if rail wasn’t there maybe they don’t do this project.

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Well it looks like 5 story Scott Residence is going up at the same time as the Haven at Elgin.

The document below says 240 single occupant units. I take that as only 1 person occupying 1 apartment.
:thinking:

2519 Scott St

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So care to venture what the rent will be for these ? Does 1,200/mo seem to be in the park ? Plus utilities ? I take there is no onsite meal deal in a private project like this either. If that’s case, can students purchase a meal plan at the university cafeterias or are those restricted to dorm residents only ?

I assume they can purchase a meal plan although they will live off campus but probably none will since they will have a full kitchen. They can go to Kroger and buy groceries.

As I recall, at least when I was a student, meal plans were available to all students. They were only required if you lived on-campus, but they were available fir everyone.

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I was just trying to understand the economics , from a personal and developer POV. Nice to
have small kitchen but I don’t see many undergrads doing real cooking; at least back in the day a microwave oven was about all I would consistently used.

From a developer POV, I’m guessing it’s at least 7-8 year break even point on the $13.5 million
Investment. After that it’s gravy until remodeling at I guess the 10-12 year mark.

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