The key to Hub On Campus is that it was a by-right development. There was no rezoning. The Brownstone Hotel property had a 12 story entitlement from the day the city was remapped for the UDO. The developer identified:
- The hotel property, which was older and somewhat distressed, and had a massive zoning entitlement but was underbuilt compared to that entitlement - making it a teardown target
- A significantly underserved market: student housing within walking distance of campus. With 34,000(?) students attending classes on campus, but less than 15,000 units specifically targeting that market (including on-campus options!), the opportunity is obvious.
I actually think Hub will have a pretty big impact on affordability throughout Raleigh. A massive flood of well-located and hopefully decent but reasonably priced student apartments could get thousands of students to move out of other apartments around the city. Could be a boon for students as well, drive down costs for well-located apartments.
Compared to my days as a student there (2000-2005) it’s pretty nice to see so many housing options within walking distance of campus. Back then if you lived off campus, Avent Ferry corridor was pretty much the only option.