A recent ULI panel discussion, focused on the rapid expansion of rental units in the University District, suggests that demand will remain strong not only among students, faculty and staff but also young professionals drawn to the area’s pedestrian-friendly amenities and easily-accessible transit. The panelists agreed that the new residential investment will spur further retail investment along the High Street corridor and continue closing the gap between the district and the Short North.

A variety of market forces as well as a recently-adopted University District Plan are fueling growth in what moderator Vince Papsidero, FAICP, Deputy Director for the City of Columbus, characterized as “one of the most historically planned parts of the city.” At least nine new projects are proposed or under development, primarily along the corridor.

The panel also noted demand for furnished units with higher end finishes and amenities that are typically found in condominium developments. In fact, two new developments that feature higher end finishes were fully leased by last November despite the fact that they won’t open until next year.

That local demand mirrors a national trend in privately developed student-oriented housing that that include amenities commonly found in condominium developments such as multiple pools and well-furnished event spaces, including theatres, said Ryan Szymanski, President of Edwards Company.

The program was sponsored by Schaefer, Inc. Read more about the panel discussion on Columbus Underground.

The event panel included:

Amanda Hoffsis | President, Campus Partners and Senior Director of Planning and Real Estate, The Ohio State University

Jerry Solove | President, Solove Real Estate

Michael Stickney | President, NorthSteppe Realty

Ryan Szymanski | President, Edwards Communities Development Company

Moderator:

Vince Papsidero | Deputy Director, City of Columbus

Written By: Cheryl Pentella, ULI Columbus Communications Chair

Image Source: The City of Columbus