In their latest edition, Student Housing Business magazine published their top 25 developers of student housing, with RISE once again making the list. SHB surveys the industry to determine the total development pipeline through to the fall of 2025, this is measured in the number of student beds planned for delivery.
At the time of survey, RISE had nearly 4,000 beds planned for delivery over the next four years. The total development planned by the top 25 industry leaders increased 13.4% over last year’s survey results. This increase is a positive indicator for the industry post-pandemic.
RISE’s student housing development pipeline over the next several years includes both on-campus and off-campus projects.
Two of RISE’s on-campus P3 developments are delivering this year. These include the third phase at Appalachian State University in Boone, NC, and Maple Hall at the New Jersey Institute of Technology (NJIT) in Newark, NJ.
After delivering 753 beds to App State this fall, RISE will have capped off a multi-year, transformative project that brought over 2,300 beds and a 477-space parking deck to campus. The sequential demolition and replacement of six residence halls with four new halls will increase the total number of beds available while transforming both the campus and the student experience. Raven Rocks Hall, Thunder Hill Hall, Laurel Creek Hall and the parking deck were delivered on-time and on-budget during the first two phases in the autumns of 2020 and 2021.
Maple Hall, at NJIT, began development in May 2021 following a nationally competitive selection process. This on-campus P3 project is purpose built to house upperclassmen and grad students and includes 2,145 SF of market retail space as well as integrated structure parking. Maple Hall addresses an important campus intersection with an 8-story tower of floor-to-ceiling glass at the community’s main entrance. This prominent corner element serves as a campus beacon. The RISE team celebrated the residence hall’s topping out with their colleagues in March with the planned final delivery occurring this fall. NJIT President, Joel S. Bloom, explained at the ceremony that, “Maple Hall is critical to the future of our university.”
While the team celebrated the near finish of one development, RISE also recently celebrated the beginnings of two others. Groundbreaking ceremonies were held for two new off-campus developments in Fairfax, VA and Gainesville, FL.
A groundbreaking ceremony was held on January 27 recognizing the start of construction for The Main on University. This community, which will also be professionally managed by RISE, is scheduled to be delivered for Fall 2024 and will serve students attending George Mason University. During the event, the university’s Executive Vice President, Dr. Mark Ginsberg, spoke to the need of additional, purpose-built student housing, saying, “Today, George Mason has 40,000 students, and we continue to grow. We’re a university that, I like to say, provides access to opportunity.”
RISE also saw the opportunity to deliver more off-campus beds to serve graduate students attending the University of Florida. On April 13, RISE celebrated the groundbreaking of Element 34 in Gainesville, FL. Element 34 is RISE’s second development in the Gainesville market and designed to provide a “flexibility of lifestyle” to graduate students and young professionals looking for an upscale and modern living experience while pursuing their careers. Brandon Spencer, Development Project Manager, spoke about the long-term legacy of this development, noting that over the 40-year life of this development it has the potential to house and serve over 14,500 people who, in turn, “will leave their own legacies and impact on the Gainesville community.”
RISE is proud to once again be listed among the best in the industry for student housing development. Along with being named a top three student housing management company, the RISE team is excited to continue delivering to a higher standard and living out their mission to improve lives and impact people positively – one person at a time.