Students are still living in privately-owned student housing communities, despite the spread of the novel coronavirus. And the companies that own and manage these properties promise that they can stay.
“These are your homes,” says Avi Lewittes, chief investment officer for The Scion Group, headquartered in Chicago. “You can take heart in knowing that we will continue to remain open and operate our communities in a safe manner.”
Across the U.S., colleges and universities are no longer holding classes in person. Many have even asked students to leave on-campus dormitories. But privately-owned student housing communities are still open—and even continue to sign leases for a fall semester that would begin in six months.
Students are still living in privately-owned student housing communities, despite the spread of the novel coronavirus. And the companies that own and manage these properties promise that they can stay.
“These are your homes,” says Avi Lewittes, chief investment officer for The Scion Group, headquartered in Chicago. “You can take heart in knowing that we will continue to remain open and operate our communities in a safe manner.”
Across the U.S., colleges and universities are no longer holding classes in person. Many have even asked students to leave on-campus dormitories. But privately-owned student housing communities are still open—and even continue to sign leases for a fall semester that would begin in six months.
“These are obviously extraordinary times and there is not a handbook,” says Dorothy Jackman, executive managing director for Colliers International, based in Tampa, Fla. “It is a mixed bag—it is going in every direction possible.”
Privately-owned student housing still operating for the spring semester
Everyday thousands more people in the U.S. test positive for COVID-19. Officials in several cities and states have ordered people to “shelter in place,” only going outside to perform essential tasks like buying groceries.
But students are still living in privately-owned student housing communities. “Our properties remain well-occupied,” says Lewittes. The Scion Group owns and operates 55,000 student housing beds across the U.S. The majority of students—about 70 percent—who live in privately-owned student housing properties intend to stay, according to a survey of Scion’s residents with more than 6,500 respondents.
Read the full article at NREIonline.com.
