In "Developer planning 'student cottages'" the Register Guard quotes Anne Fifield, ECONorthwest senior economist, in an article about a Georgia-based company that bought 22 acres of land in southeast Eugene to build "student cottages" in the next two to three years.
To answer the question of whether or not there is enough demand for student housing to support the new development, the Register Guard looked to ECONorthwest's Anne Fifield. The article reads:
UO enrollment is expected to continue to increase over the next few years, “so there’s definitely demand for new housing,” said Anne Fifield, senior economist with ECONorthwest, an economics consulting firm based in Eugene.
She predicts that a fresh supply of housing that appeals to students and their parents, who, for the most part, are footing the bill, will put pressure on owners of run-down rentals near campus to improve their properties.
“Existing landlords haven’t had to invest in their properties because they have this market where students have to live here, and it’s sort of a captive audience,” Fifield said. “I think that’s one of the reasons these out-of-town developers are seeing an opportunity.” Owners of older rentals “will have to invest in their properties or will have to lower their prices,” Fifield said.
That could put downward pressure on rents throughout the area, she said.
“You’ll probably see a decline, or lack of increase, in rents across town,” Fifield said.
The rest of the article is available from the Register Guard here.
Anne Fifield, senior economist, specializes in assessing the economic and fiscal impacts of public policies at the local, regional, and state level. She is also an adjunct instructor at the University of Oregon.