• Adjacent to Campus and Off-Campus Attractions
Academy on Charles overlooks Bishop Square Park and is situated at the intersection of W. University Parkway and N. Charles Street that is the main access point marking the northeast edge of JHU’s Homewood campus. The Property is immediately walkable to many of JHU’s primary campus facilities including Homewood Field (home of the storied JHU lacrosse team), Babb Field at Stromberg Stadium, academic village, student recreation and fitness center and dining halls. Academy on Charles is also conveniently located to many of JHU’s off-campus retail and restaurant destinations including The Rotunda, a high-end outdoor shopping area with a farmers’ market, dining options, movie theatre, and variety of shops, as well as St. Paul Street, which is home to JHU’s primary apparel and campus bookstore (Barnes & Noble), necessity retail (CVS Pharmacy) and restaurant row (Starbucks, &Pizza, Chipotle, Potbelly).
• Strong Off-Campus Housing Market
There is a pronounced lack of institutional quality, off-campus housing options surrounding the Homewood campus at JHU. There are less than 1,000 student housing beds within one-mile of the Homewood campus and no properties in the student housing development pipeline. Academy on Charles boasts a strong historical occupancy averaging 98% since 2019. The robust demand is further illustrated by Academy on Charles preleasing velocity as it reached 90% prelease for AY 22-23 by February 2022 and 100% prelease by early April 2022, which was two months earlier than the prior year.
• Globally Recognized, Elite University
Johns Hopkins University was recently ranked as the #7 university nationally and #9 globally by U.S. News & World Report and is widely recognized as one of the most prestigious and highly selective universities in the United States. JHU’s Homewood campus has grown enrollment by an impressive 50% over the past 10 years and by 27% over the past five years. Newly admitted students hail from 48 states, Washington D.C., Puerto Rico, the U.S. Virgin Islands, Guam and 63 foreign countries. JHU also boasts one of the largest university endowments and is one of the country’s leading scientific and technology research institutions, contributing to its perennial appeal to attend JHU from students around the world.
• Best-In-Class Unit Finishes & Amenities
Academy on Charles features top-of-the-market unit finishes and community amenities such as a rooftop terrace with views of campus and the surrounding area, multiple study lounges where students can work together or alone on their academic work, a computer lounge with Apple computers, and spacious units that allow residents to unwind after a long day. The opportunity exists, however, for new ownership to upgrade unit finishes and further build upon the community’s amenity base to assist in approaching closer to the top of market rental rates.