Will We Have Too Much JMU Student Housing?


Will We Have Too Much JMU Student Housing?
By Scott Rogers • January 4, 2008
Last week the Daily News Record reported that 3,700 residential units are under construction, which seemed to be quite a bit of housing for JMU students. Below is a bit more information that sheds some light on the matter (facts and figures provided by Harrisonburg Community Development, summary and commentary by me) . . . The "3,700 units" referenced in the Daily News Record includes projects in various stages ranging from recent rezonings to projects for which building permits have been issued. Some of the housing projects included in the "3,700 units" of housing shouldn't be aligned with college student enrollment growth: 1. Some projects were included that are just about complete and occupied (parts of Liberty Square, Beacon Hill, Millwood Condos, Sunset Heights-Holmes Addt., Westfield, and Willow Ridge). 2. Some projects are not aimed at student occupancy (Christophel Properties, Founders Way Condos, Hidden Creek Apts., Hillmont Apts., Lady Slipper Ct., Beacon Hill, Liberty Square, Miller's Homestead, Millwood Condos, Park Rose Place, The Quarry, Townes of Bluestone, Townes at Wellington Park, Wishing Well Estates II). The largest remaining projects, aimed at students would be: Campus View Condos (84) 2-3 BR units (84) 4 BR units Copper Beach (78) 1BR units (78) 2BR units (118) 3BR units (158) 4BR units Latitude 38 (96) 3 BR units (132) 4 BR units Purple and Gold TH (132) 4 BR units Sunchase (24) 4 BR units Hunters Ridge (16)-(24) 4 BR units Totaling these yields about 3,300 beds aimed at students, which turns the debate back to how many more JMU students will be enrolled in coming years. I would estimate 2,800 based on JMU and SCHEV figures --- the Daily News Record continues to estimate 4,100. No wonder developers keep coming on the scene to build more student housing! In the end, we'll just have to wait and see which projects are actually built out. Some developers may decide to hold off on their projects as they learn more about the market, or as their bankers learn more about increasing vacancy rates. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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