| University Suites Development plans
to become a national leader in the development and management of next-generation
student housing by utilizing the design, development, construction and financing
expertise of the R.P. Carbone Companies. As burgeoning student populations have
led to critical shortages in student housing at major universities nationwide,
most students choosing to live off-campus are forced to select from dated rental
units offering none of the high-tech amenities that higher education currently
demands for students. University Suites student condominium communities will
offer creatively designed, well-constructed residences with exciting amenities
and technologically smart rooms. Each three-to-four bedroom, all-private-bath,
student condominium will be sold with fully equipped kitchens, ceiling fans,
privacy locks, walk-in closets and high-speed Internet access. Common areas
of the student community will offer a large swimming pool, decking, hot tub
and beach volleyball or basketball courts. Low (3%) down payments approved by
the FHA and the ability to deduct mortgage and property taxes from income taxes
will enhance the investment aspect of a student condominium for parents as they
eliminate the most expensive element of sending their students to college and
are able to benefit from almost "rent free" housing by leasing other bedrooms
in the condominium.
University Suites Development is committed to mastering the unique development, marketing and operating parameters of student housing. With key members of the University Suites development team experienced in the ground-up construction, management and sales and marketing of student condominiums, University Suites Development has identified over 130 target sites at universities throughout the United States and plans to develop three to five student-oriented condominium communities annually for the next five years. As the trend for students to enroll in college intensifies over the next ten years and the offspring of baby boomers reaches an all-time high of 35 million, the demand for student housing over a long term is assured.
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