That's one of the more attractive piles of dirt I have seen in years. It has potential! LOL
UNE Portland
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TC_zoid
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400 graduate medical students from around the country and world will be studying here and they have no housing on or near the campus in a city undergoing a housing crisis. I'm truly amazed by the lack of logic from this university. But these students will have sources to pay for more expensive housing, and for anyone in the area with a home that has a separate unit available for renting, I'd recommend full speed ahead for an immediate renovation. I have friends a half mile from here and they are already doing it (from my urging a year ago). They finish with an all new and remarkable large second floor unit with a south facing deck three months from now. Normally, I would think a monthly rent of up to 3K for something this nice for UNE students (2 students). But when these medical school students start seriously looking this summer, and there is nothing close, or within walking or biking distance, it becomes a brutal supply and demand scenario--no supply and huge demand. There have already been cases of students not finding acceptable housing at UNE and they have withdrawn from the school. But this is a medical school, and the only one in Maine. It's not that crazy of a thought thinking a rate of up to 5K for my friends' rental space. The Armature had some furnished 2 BR's last year for $5,800 a month. And a student with an ability to borrow or receive great sums, and they are out there, I could see my friends' place possibly getting up to 8K per month! And maybe even up to 10K for 2 students or 1 truly blessed trust fund kid is also possible, or if the place is nice enough. Remember, regarding real estate in Southern Maine now, we are seeing things not Maine in Maine. OOB house rentals on the beach are going for up to $1,600 per night! And watch what happens when the new Roux build starts classes for its students. More craziness. Maybe buy or lease a commercial space on Anderson Street as the de facto Roux housing will be immediately accessible from Gould Street (that little park cul de sac entrance). Where will all of these Roux students go for fun? Also, anything across from or near the new USM Arts center is gold. The Google Earth update shows this building looking HUGE and stunning in its footprint. The surrounding landscaping will be exceptionally nice too. I think the music school goes up a level of interest and credibility after--maybe two. Good times ahead. Invest, invest, invest!
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TC_zoid
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In the PPH today, Redfern was quoted (Jonathan Culley) saying that their residential building proposal on Washington Ave., of which the Planning Dept approved on Tuesday for 325 apartments, will be for Roux students. It also has 80 units for "workforce housing", but the building only offers 11 parking spaces. This building is now, de facto, all for Roux graduate students. And, with the 4 teardown buildings across the street, you think that land is now worth more? Maybe a hotel for Roux? They need one. The truth is that by the time they finish more housing and a hotel on their own new Roux site, it won't be for another 10 years. Opportunities here. Who wants them?
Does anyone projected Roux enrollment in the first few years? And the rate of increase over the next... 10? I thought I saw this somewhere awhile back but I can't find it. Wondering how the increase in students will impact the rental market aside from the Redfern project.
TC_zoid
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I've read that currently with remote students it's at about 2,000. When they finish the build, again 2,000 but attending on the campus. And I also read a number that was stated by Roux of 8,000 but then implied somewhere between 5 and 10 years. However, if you have more students wanting to attend and can raise the costs, I would then assume that they will comply and enroll them. I could see it at 10,000 students by 2035. It's high-tech learning, A.I., robotics, cloud computing, etc. and also incorporating it into startup and existing companies. It's also a relatively easy jaunt back and forth to Beantown. So far, or currently at the school, some startup company heads are enrolled from other countries. It's all managed by Northeastern University, and their official enrollment is at around 39,000 students. It could be an onslaught of wannabe Elon Musks. Where are they going to live? And where are they going to eat and drink? UNE Portland and USM will also see substantial growth. Remember where Portland was as a city in 2010 and how its changed since? Dramatic. Why would it slow down? It won't.
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Given Roux's emphasis on A.I., I am wondering about their computing facilities. Will they be on site or remote? Wherever they are located that is going to be quite the energy demand.