The tiny revolution has come. People have become increasingly fascinated with all things tiny. Just ask those who watch Tiny Kitchen or Tiny House. Tiny has become so mainstream that micro-housing is popping up in cities all across the world, and student housing is following suit. Take a look at this new, tiny frontier.
WHAT IS MICRO HOUSING?
Urban Land Institute defines micro units as being 350 square feet or smaller. They usually come fully furnished with high-end finishes. People utilizing micro-housing can save 20-30% on rent while enjoying the benefits of living alone. Micro-housing isn’t just great for tenants. Developers appreciate that it boasts both a greater rate of return and higher occupancy rates than standard housing. Micro-housing has come to such cities as Manhattan and Los Angeles, as well as Seattle, the so-called capital of micro-housing. Micro-housing is a relatively new concept for city dwellers, but it did not take long for student housing to catch on to the benefits that it has.
WHY IS MICRO STUDENT HOUSING SO GREAT?
There is an increasing amount of students looking for student housing around the world. Unfortunately, students are outnumbering available units. Micro student housing is an attempt to shrink this divide. Universities in Vancouver, British Columbia, and Sweden are already incorporating micro-housing into their student housing options. These units are renting for considerably less than full-sized units. Starting in 2019, students in Vancouver can rent a 140 square foot unit for $675-$695 a month, as compared to $1,000 for a full-size unit. This allows the university to house more students for reasonable prices. Sweden has already started to see the benefits of micro student housing and their impact on the student housing shortage.
ARE THERE ANY AMENITIES?
With micro units being smaller than standard units, functionality is very important. The units are furnished with convertible furniture, such as murphy beds that transform into desks. Units also feature loft-style living with beds stacked on top of the kitchen area. Designers and architects have come up different ways to utilize every square inch inside of these units. Besides the size of the individual units, micro student housing is no different from regular student housing. Each unit even has its own kitchenette and bathroom. In Vancouver, the building will also come with high-speed Internet, a game room, a study room, and a fitness center. Even though space is minimal, there is no shortage of amenities included with these micro units. Micro student housing is still in its infancy but is sure to come to the U.S. soon. It is a great addition to the student housing sector and could go a long way in helping alleviate the U.S.’s student housing shortage. Be on the lookout for micro student housing at a university near you!
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