• Unrivaled Location Next to Campus With Virtually No Off-Campus Supply
Peninsular Place is located adjacent to Eastern Michigan University’s northern border, tucked beautifully in the natural splendor of the Huron River. The scenic living experience enables students to thrive while attending classes and exploring the easily accessible suburban town of Ypsilanti. As the only purpose-built student housing asset in the market, demand for beds continues to grow as on-campus housing availability fluctuates due to the “Welcome Home 2025” initiative actively taking beds offline for renovations. With unparalleled access to academic buildings, iconic campus destinations (i.e. Big Bog’s Lakehouse), local bars, breweries, and nightlife, Peninsular Place will continue to be the cornerstone of student housing at EMU.
• Proven Occupancy and Rate Performance from a Best-in-Market Asset
The Property averaged 98.5% occupancy the last 3 years and is 96% preleased generating 6.7% rent growth for AY 23-24. Peninsular Place is the best performing asset in the market, offering a top-tier amenity package guaranteed to encourage students to socialize and succeed while attending Eastern Michigan University. The Property’s interior attractions include a state-of-the-art fitness center with strength equipment, cardio machines and free weights, 3D HD theater room, coffee bar, business center with iMacs, PC’s and free printing, 2 gigabyte high speed internet, and group study lounges. Exterior amenities include a sand volleyball court, professional BBQ grills, grassy interior courtyard, and 24-hour controlled access security system with a courtesy patrol officer.
• Affordable Rents in a Best-in-Class Asset
Peninsular Place’s unit finishes and amenity package is highly superior to its non-student competitors. Unit finishes include hardwood-style flooring, fully equipped kitchens, modern furniture package, stackable washer and dryer, and floorplans designed to enhance privacy. Attracting price-conscious renters that do not wish to sacrifice quality for affordability. For example, Peninsular Place’s 4-bedroom units lease 9% lower than the same on-campus floorplan type.
• No Future Off-Campus Supply and Short / Long Term Reduction of On-Campus Housing Creates Strong Demand Landscape
Peninsular Place is naturally insulated from any new purpose-built off-campus student housing supply as there are no active developments in the pipeline. As EMU’s “Welcome Home 2025” removes over 2,000 on-campus beds in the next three years to renovate existing or demolish and replace on-campus housing supply, demand for Peninsular Place’s superior product will drive outsized rent growth. The Property is a beacon for purpose-built off-campus student housing, a perfect example of the asset class’s appeal to investors and students.