PER SCION PREDICTION, CONVERSION OF HOTEL FOR STUDENT HOUSING ACCELERATED TO MEET DEMAND

FLINT, MI. The Uptown Reinvestment Corporation has announced it has accelerated its conversion of a former downtown Flint hotel to student housing to meet growing demand from students of the University of Michigan-Flint. In 2008, The Scion Group advised the C.S. Mott Foundation, which funded the project, forecasting that the development would spur demand for additional beds by 2010.

The first phase of conversion, completed in Fall 2009, included the fifth through eighth floors of the building and created 250 beds of suite-style student housing together with building-wide updates. The second and third phases, originally planned for completion in 2011, will bring the total to 550 beds and add classrooms, entertainment amenities, a conference center and meeting space. Due to increasing student demand, the second and third phases have been consolidated and will be completed for the 2010-11 academic year. Scion’s market and demand analysis recommended completion of these phases by Fall 2010 to meet projected student enrollment and demand.

As reported in the Flint Journal, the University of Michigan-Flint is on track to reach its goal, set in 2005, of 30% enrollment growth in five years. Purpose-built student housing has operated on and near the campus for three years, during which the University marked record enrollment each year.

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