Owning a commercial building can be profitable. With many more people working from home, the demand for office space has decreased. Owners of commercial properties are seeking ways to repurpose their buildings into more profitable spaces.
There will always be a demand for housing. Turning office buildings into apartment complexes can be an effective way of transforming a property into a profitable venture. Developers who live in college towns should consider purchasing office buildings and turning them into student apartments.
Many students, particularly upperclassmen, prefer living off-campus. Offering them quality, affordable housing can be profitable while providing an important element to students and the community. There are several things students require that should be provided by apartments designed for them.
Comfortable Sleep Spaces
Angelo Ingrassia developer has converted buildings into student housing and knows that comfortable sleep spaces are essential. Most students have incredibly busy schedules that include classes, study time, writing papers, and often working a job. They appreciate a quiet room with a comfortable bed where they can rest and recuperate.
Work Spaces
Students are constantly researching and writing papers. Their living quarters require workspaces with a desk and a comfortable chair. Sufficient light and shelves for books and study materials are also necessary.
High-Speed Internet
When it comes to study and research, the Internet is an essential tool for students. Some of their classes are online and most colleges have web-based platforms for submitting assignments. Any student apartment must have a high-speed data connection.
Plenty of Electrical Outlets
Students generally use many electrical devices. They need outlets to power them. Desktop and laptop computers need places to plug in as do chargers for smartphones and tablets. Some students will also have smartwatches. A student may also have a television and even something as mundane as a lamp requires a power source.
Storage Space
Any apartment dweller needs closets and other storage spaces. The needs of students are a little different. Those attending college move in and out of apartments at the start and finish of semesters and travel home for holidays. Students tend to live out of suitcases so their storage spaces should be simple and convenient. They should easily be able to unpack and pack suitcases. Cupboards and drawers are good solutions.
Parking
Many students own cars which they use to get to and from campus and back and forth from home. Providing off-street parking makes an apartment building more attractive to them. If the building is close to their school, they can walk to classes and their apartment parking avoids the problem of finding on-campus parking.
Microwave
With their busy schedules, students often don’t have time to cook full meals. Eating out is expensive, especially on a student budget. A microwave is an essential appliance that most students use daily. Providing one in a student apartment makes it more desirable.
When deciding what to do with an office building, if there are colleges in town, consider student apartments. It is a profitable solution and one that contributes to the futures of bright, young people.
