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Atlanta & Southeast  + Carolinas  + Student Housing  | 
Duke Buys apartments for student housing

Duke Buys Rental Community for Student Housing

Duke University paid an apartment owner $43 million to take over the Blue Light Living apartments. The school will add the apartments to the school’s housing inventory, instead of building new ones. The school plans to make a number of minor changes to the 84-unit building before allowing students to move in next fall.

The Triad Business Journal reports the school says the sale is a way to deal with the area’s acute student housing shortage. The move by Duke comes as the university experiences a record high number of student applications. The apartments at 1605 Erwin Road in Durham have a total assessed value of about $10 million. It was owned by the Boy family.

Duke is not the only area school grappling with the student housing issue. Johnson & Wales University, a private college with a campus in North Carolina, announced plans to convert a hotel it owns in Charlotte into student housing.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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