Apartment Complexes Hurting for Renters

1 decade 1 year 5 months ago Wednesday, February 07 2007 Feb 7, 2007 Wednesday, February 07, 2007 8:31:55 PM CST February 07, 2007 in News

The 24 property managers at the MU Housing Fair on Wednesday said Columbia as a whole is overdeveloped in terms of apartments. They said complexes are growing faster than the student population.

"We're at 250 students," Gateway Property Manager Kerri Navarro said.

That means many rooms are left empty.

"Last year we were 99 percent full, and the average was 10 to 15 percent vacant," Copper Beech's Beejan Savabi said.

The vacancies have caused some companies to tighten their budgets, and even rumors about bankruptcy have spread.

"We're not going bankrupt," Dana Ericsson of Campus Lodge said.

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