Brookside Apartments will not build more student housing

5 years 1 month 2 weeks ago Wednesday, October 01 2014 Oct 1, 2014 Wednesday, October 01, 2014 7:06:00 PM CDT October 01, 2014 in News
By: Brittany Rendak, KOMU 8 Reporter
loading

COLUMBIA - With new student housing going up all over Columbia, one apartment owner will not build any future developments. Brookside Apartments will not be building any more complexes in Columbia due to the supply of student houses being greater than the demand.

A 14-page report reveals data that shows over the last two years the new student houses has out paced demand especially in undergraduates.

Brookside spokesperson Jack Cardetti said at this point it did not make financial sense to build more student housing.

"We originally attended to put more student housing out at our Discovery Ridge property, but instead we cancelled that. Any housing that goes out there will be non-student," said Cardetti.

The general manager for the Tiger Hotel, David Streeter, said the student complexes have helped his business.

"I think student complexes are helping to revitalize downtown. We have very few empty store fronts, and I think that is helping all the businesses in the downtown market," said Streeter.

Streeter said he said he thinks there must be a need for student housing but is not sure if it is getting too overcrowded.

"I think that there is a point that there will be over-saturation, and it may be getting close to that point. So I am not sure where they would build more Brooksides especially with Opus starting to get built. I think we may have reached the saturation point by now," said Streeter.

Cardetti said right now they have determined there is enough student housing in the Columbia market.

"The University has talked about some growth. A lot of the growth is a graduate sector, online, and some other areas. While great for the University, that doesn't necessarily increase demand for a purpose to build student housing," Cardetti said.

He said a lot of out-of-state developers have been building a lot in Columbia and instantly flip the developments to another seller.

"The owners at Brookside live and are from Columbia. They want to build something that will last a long time and run for hopefully decades to come. So it is just a different business market for some of these out of state developers," said Cardetti.

Cardetti said Brookside will continue to do analysis over the next year.

More News

Grid
List
ST. LOUIS (AP) — The 81-year-old mayor of a St. Louis suburb is accused of submitting fraudulent absentee voter... More >>
28 minutes ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 2:19:29 PM CST November 21, 2019 in News
JEFFERSON CITY - The Cole County SWAT team and the MUSTANG Drug Task Force conducted a drug search Tuesday, arresting... More >>
1 hour ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 1:46:00 PM CST November 21, 2019 in News
FULTON - Deputies arrested a man Wednesday afternoon while conducting a drug search, according to Callaway County Sheriff's Office. ... More >>
1 hour ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 1:36:00 PM CST November 21, 2019 in News
JEFFERSON CITY - Wednesday's fire at the Missouri State Penitentiary started as a result of a training burn by the... More >>
1 hour ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 1:03:00 PM CST November 21, 2019 in Top Stories
JEFFERSON CITY - A Columbia man pleaded guilty Thursday to setting a fire at the Planned Parenthood clinic in Columbia... More >>
2 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 12:02:00 PM CST November 21, 2019 in News
JEFFERSON CITY - The first annual Dementia Caregiver Retreat is helping the loved ones of dementia patients prepare for the... More >>
11 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 3:24:00 AM CST November 21, 2019 in News
COLUMBIA - A scooter rental pilot program in Columbia is soon to expire. Now, the scooter company is seeking a... More >>
14 hours ago Thursday, November 21 2019 Nov 21, 2019 Thursday, November 21, 2019 12:34:00 AM CST November 21, 2019 in News
COLUMBIA - A pedestrian was hit by a vehicle Wednesday night, according to MU Police spokeswoman Sara Diedrich. It... More >>
16 hours ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 9:53:00 PM CST November 20, 2019 in News
FULTON - The only hospital in Callaway County could be in its final days of serving the community. Fulton Medical... More >>
17 hours ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 9:19:00 PM CST November 20, 2019 in News
COLUMBIA - Columbia Regional Airport is one step closer to getting a new terminal. The city Airport Advisory Board... More >>
19 hours ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 6:51:00 PM CST November 20, 2019 in News
COLUMBIA - In its first season of competition, the University of Missouri Esports team were crowned champions after winning the... More >>
20 hours ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 6:08:00 PM CST November 20, 2019 in News
JEFFERSON CITY - A fire broke out Wednesday afternoon at the Missouri State Penitentiary. According to fire personnel, the... More >>
21 hours ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 5:37:00 PM CST November 20, 2019 in News
COLUMBIA - The City of Columbia is moving forward with the creation of a new solar field after the city... More >>
22 hours ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 4:14:00 PM CST November 20, 2019 in News
COLUMBIA - A Columbia Police source confirmed officers were following up on leads Wednesday in Cooper County in relation to... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 2:45:00 PM CST November 20, 2019 in News
COLUMBIA - After testimony and a three hour jury deliberation this afternoon, Matthew McMillan has been found guilty of murder... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 2:41:00 PM CST November 20, 2019 in News
FULTON - The Fulton Police Department and Callaway County Sheriff’s Office assisted the M.U.S.T.A.N.G drug task force with a narcotics... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 2:18:00 PM CST November 20, 2019 in News
COLUMBIA - 6,157 out of 6,987 sexual assault kits went untested in Missouri, the state's SAFE Kit initiative revealed Wednesday.... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 1:02:00 PM CST November 20, 2019 in News
OSAGE COUNTY - A man on the run since Friday in Maries County was captured Wednesday morning in Osage County.... More >>
1 day ago Wednesday, November 20 2019 Nov 20, 2019 Wednesday, November 20, 2019 12:51:00 PM CST November 20, 2019 in News
Columbia, MO
Broken Clouds 48°
3pm 54°
4pm 53°
5pm 50°
6pm 48°