When Cameron Bernhardt transferred from New York University to the University of Maryland a year and a half ago, he struggled to find a place to live.
Affordable housing close to campus seemed almost non-existent, and the junior computer science major’s transfer status made it hard to find on-campus housing, since priority is given to first-time freshman students and those who already live in dorms and want to return.
It was July when Bernhardt was rejected from university housing, and by that time, only Courtyards and the University View had openings.
So, Bernhardt is all too familiar with College Park’s housing problem. But the company behind the upscale apartment complex opening in College Park this spring doesn’t consider students like him future tenants.
Wood Partners, an Atlanta-based property management company, is gearing their new building to post-graduate students and young professionals. Alloy by Alta is set to open on Berwyn House Road and replace Fuse 47, the complex that burned down during construction in 2017. Wood Partners declined to comment for this story.
[Read more: A year after the Fuse 47 fire, a new apartment complex is being built in its place]
The complex will include 275 units with one to three-bedroom floor plans, in addition to a 2,600-square-foot fitness center, “resort-style pool,” pet spa and bocce court.
At $1,695 to $3,450 a month, prices for rental spaces at this complex will soar above those offered at nearby buildings. Apartments at Terrapin Row range from $850 to $1,699 a month.
Abby Ridgeway, a junior psychology major, called rising housing prices in the area “worrisome” and “concerning.”
“[Landlords] know that [students are] an easy market to take advantage of,” said Ridgeway, who lives in a house in Old Town. “People need somewhere to live and they’re not just going to be homeless or sleep in their car.”
Ridgeway said the university is also responsible for burdening students with high rent rates.
[Read more: Route 1 rent went up, BookHolders moved out — and some UMD students aren’t happy]
Students who live in a four-bedroom, two-bathroom apartment in South Campus Commons during this academic year pay $900 per month. Prices for all South Campus Commons apartments will be increased about 4 percent next year, according to the website.
In 2018, the university dealt with mold in multiple dorms across campus. But even in the city, Ridgeway said many houses are in “disrepair” and “falling apart.”
“I think that everyone needs to do a better job providing safe housing, and affordable housing, and stop taking advantage of literally everybody,” Ridgeway said, adding that the city and this university should be held accountable and regulate rent prices.
Burkely Hermann, a 25-year-old College Park resident, said housing in the area shouldn’t exceed $1,500 a month.
“Places like Alloy should stop treating students as literal cash cows as they are clearly not full of money, but are heavily in debt as shown by the ever-expanding student loan debt,” Hermann said.
In recent years, inflation and the rising cost of attending university has increased student loans nationwide for millennials. A Federal Reserve study found that student loan debt among 24 to 32-year-olds doubled from $5,000 in 2005 to $10,000 in 2014.
Like Hermann, Nicholas Hawkins, a senior atmospheric and oceanic science major, said rent costs for Alloy and other luxury apartment buildings are too high.
“College students don’t need luxury apartments and penthouses,” Hawkins said. “But it also makes me mad, because I know people are going to buy it still, because the demand for housing here is so high.”
Hawkins — who currently pays $700 a month for a house behind Fraternity Row — said the new complex will likely reach its target through wealthy students. The company is planning on targeting young professionals, a move Hawkins called “unrealistic” for entry-level workers.
But Alloy isn’t the only building expected to target post-graduates in the area. In 2018, The Bozzuto Development Company announced a multimillion dollar redevelopment project on the site of the former Quality Inn and Plato’s Diner. The building, which seeks to attract College Park’s full-time residents, will offer approximately 70,000 square feet of retail space and an estimated 393 residential units.
Establishing a population that resides in College Park year-round will benefit the financial health of the city in the long-run, the city’s economic development coordinator, Ryan Chelton, said.
“Right now, the businesses around the university really struggle while their customers go away over summer or winter breaks,” Chelton said.
Alloy by Alta is just one of multiple new development projects in the College Park midtown area. In 2017, Vigilante Coffee opened next to the View, and in 2018, the Cambria Hotel and Suites opened, equipped with an Orangetheory fitness studio. This spring, a German discount grocery chain, known as Lidl, is expected to complete construction on Route 1.
And Alloy’s opening will help bring even more businesses to the area, said Eric Olson, executive director for the College Park City-University Partnership. He added that the new building would also make the city a more “walkable” community.
“It creates more people living in walking distance to campus,” said Olson. “It’s right along the bike trail, it’s not too far from the metro station, and it will bring more people who will spend their money at the local restaurants.”
Bernhardt eventually wound up in a townhouse across from the University Club, a move he said was the cheaper option compared to living in the View or Courtyards. While he remains frustrated by the lack of affordable housing in the area, Alloy’s opening has him hopeful for the future — despite the complex’s high price.
“Having more options will eventually drive the price down,” he said.
