Housing Supplement

IC

An

Special Section

From the recession’s effect on apartments to where artists live.

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The

Independent Collegian

Thursday, February 17, 2011

Table of Contents Apartments and the recession . . . . . . . . . . . . . . . 3 Buying property for student housing . . . . . . . . . . 4 Developing artists call Toledo home . . . . . . . . . . 5 Living on campus vs. off campus . . . . . . . . . . . . 6

Housing ads Campus Village . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 BK Properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 University Circle Apartments . . . . . . . . . . . . . . . . . . . . 4 King’s Cove . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Campus View Apartments . . . . . . . . . . . . . . . . . . . . . . 5 Park Lane Luxury Apartments . . . . . . . . . . . . . . . . . . . 5 Oak Hill Apartments . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Oakwood Villas & Townhomes . . . . . . . . . . . . . . . . . . 6 Forest Creek Town Homes . . . . . . . . . . . . . . . . . . . . . 6 University Properties . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Wood Ridge Apartments & Townhomes . . . . . . . . . . . 8

Nick Kneer / IC

Sunet over Ottawa West Cover art illustration by Joseph Herr / IC

Ottawa West (above) and Ottawa East combine to make Ottawa House, one of nine residential halls on campus at the University of Toledo.

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Thursday, February 17, 2011

Cover story

Apartments and the recession

By Vincent D. Scebbi Features Editor

With the economy slowly beginning to turn around, some experts believe an increase in the renting market for 2011 is a likelihood.

One contribution to the projected increase in renting is the unclear outcome of single-family homes in the market. Data from the National Real Estate Investor website indicates the number of homeowners declined 2.1 percent between 2006 and 2010, ultimately increasing the number of those looking to lease.

The Great Recession, which caused new heights of unemployment rates for those under 35 years-old since the 1930s, forced many to move in with roommates. Also, U.S. Census data said two million people be-

tween 20 and 35 moved in with roommates or family in the past five years.

David Lynn, head of investment strategy for ING Clarion Partners in New York, said the rental demand has strong relations to job growth, which is projected to increase.

According to an article from the National Real Estate Investor, an approximate 874,000 jobs were added since December 2009 and the labor market is projected to recover by 2014 according to Moody’s Economy.com.

With the number of tenants increasing and more jobs, the rates of rent are expected to increase.

“We expect the national average vacancy rate to decline through at least 2013 as demand substantially outpaces supply,” Lynn said. “After falling by 2.9

percent in 2009, we believe that effective rents will increase from 2011-2014.”

Victor Calanog, head of research and economics for the research firm Reis, said in a recent post with NREI the economic growth will lead to job creation for younger age demographics who are typical renters. This, combined with fewer apartments, will lead to an increase in rent.

The expectations for a good year for apartments can be felt

by Phil Dew, owner of the Park Lane Luxury Apartments located on Collingwood Boulevard in the Old West End. Dew reported his complex has seen a spike in the number of tenants since the summer.

Although he cannot explain what specifically is causing the increase in his tenants, he said

he has noticed more renters from the suburbs looking in the downtown area.

“I’ve had people the last couple of weeks coming from the Perrysburg area and wanting to try the downtown area, and a lot of people from the suburbs are coming this way,” Dew said.

“The economy is doing me good.

I’ve been able to pay off some of the debt.”

Dew said with the increase in income, he was able to make improvements on the almost 90-year-old establishment such as improved heating and cooling systems.

“I live here, plus I care. It’s my home too,” he said.

The Great Recession may show signs of turning around, but Dew said he has noticed some of his tenants struggling to make their rent payments.

“I’ve got a couple people who have gotten behind,” Dew said. “He lost one of his jobs and he is struggling in part because of the economy. Another guy had his hours cut so he quit. I would say I probably have a few other people struggling with affording rent.”

Since the summer, Dew has had more young professionals moving into Park Lane. The downside is that younger demographics tend to reside for one to two years, compared to older tenants who usually stay longer.

Dew noticed a few of his younger tenants have been moving on “to better opportunities.”

“One was a guy that got a job and moved to Columbus and another guy had a year’s lease and halfway through and he found a better teaching job in Indiana,” he said.

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Thursday, February 17, 2011

Buying property for student housing

By Sura Khuder IC Staff Writer

With a down economy and the price of homes declining, more parents across the country are opting to purchase real estate for their children when they go away for college.

Danberry Realtors agent Tony Bassett said parents chose to purchase homes for their children instead of paying for dormitories and apartments because of the investment it offers to them.

“With the purchase rates houses being down, even for a second house parents can get a great deal for their children,” Bassett said.

“It’s a better investment for them instead of throwing it away at dorms or throwing it at campus housing.”

According to a recent survey

by The College Board, the average cost of room and board at a university is $8,535, a 4.6 percent increase from last year. The country, on the other hand, has seen a 4.1% decrease in the price of homes according to a recent Clear Capitol report. Some cities in Ohio, most notably Dayton, have seen double digit drops in home values.

After four to five years, parents that purchased homes for their students expect to see the value of the home appreciate. Moreover, houses near college campuses are always in demand, explained Bassett.

Housing around campus, in particular the area around the Bancroft Hills neighborhood, east of the University of Toledo — Buying, Page 8

File photo by Joe Griffith / IC

While some homes in the Bancroft Hills neighborhood east of the University of Toledo Main Campus have drastically fallen in prices from $80,000-90,000 to $17,000-25,000, most parents are looking elsewhere when purchasing student housing for their children.

Thursday, February 17, 2011

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Developing artists call Toledo home

By David Harris IC Staff Writer

For many artists, the big market cities and regions, such as N e w York City, Miami and Los Angeles, are too expensive to reside in. As a result, many of these artists pick inexpensive regions to live in and choose to develop their artistic careers from there. Even some major artists have decided to leave the big city lights to transform and revitalize a smaller market. Although the closest major art city is Nashville, Tenn. (which according to Google Maps is 408 miles and nearly an eight hour drive away), Tole-

do is slowly becoming a major breeding and proving ground for aspiring artists in a variety of fields.

Painting with a purpose For Jamal Armstrong, the road to artistry started with a dream deeply rooted within his Christian faith. “My dream, as a Christian first and foremost, was to paint for the kingdom of God,” said Armstrong, a Toledo native who resides in the Midtown section of the city, a middle-class area close to the university.

Armstrong, who con-

sidered himself both an employee at his job and an artist, says that he supports himself off both careers. As an artist, Armstrong not only receives payments for gigs, but he also paints and sells customized artwork as well.

“Fortunately for me, my artwork supports itself and most of the time produces extra money for me,” Armstrong said.

“My day job supports me as an individual.”

Armstrong believes that wherever an artist chooses to live, the most important factor is that the housing has to be cost-effective for the in— Artists, Page 7

Kevin Sohnly / IC

The Collingwood Arts Center houses artists of all kinds from painters to poets.

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Thursday, February 17, 2011

Living on campus vs. off campus When I was asked to do a piece comparing on-campus living to off-campus living, my first thought was, “Boy, a lot has happened since I last lived on campus. How am I going to write about this?” But then I started thinking back about dorm life and figured I could probably give some good insight after all. But first, let me tell you a bit about my previous living situations here at UT so you can see where I’m coming from.

My first year at UT I lived in Academic House and spent my first two weeks in a lounge because I had applied for housing so late. My sophomore year I spent in Ottawa East on campus before moving into a house about a mile north of campus the following year. In my final year, I am currently living in University Hills.

Now let’s talk about the pros and cons of each living situation. Everyone is different, so it doesn’t help you at all if I just tell you what situation I preferred most. Instead, I’ll try and give some insight into each living arrangement since I’ve lived in a traditional dorm, suite, house, and now apartment.

ing on campus for the ability to have an apartment feel complete with separate bedrooms, a non-communal bathroom, and even a “common area.”

As I mentioned, one of the reasons students prefer to live on campus (besides being mandated to in their first year) is that everything is close by. Classes, the rec center, the Union and On-Campus dining halls are no more On-campus living ofthan a short walk away. fers many advantages, And in case you can’t especially with the new muster up the energy to suite-style dorms that Anthony walk a quarter of a mile, Russo are popping up everyyou can take a bus! where on college camStudents who live on campus puses. UT offers suite-style don’t have to deal with commutdorms in Ottawa East, Ottawa ing to campus, eliminating the West, The Crossings, and Inter- frustration of sitting in traffic national House. In this arrange- and hunting for parking spots. ment, students don’t have to In addition, there is the feeling sacrifice the convenience of liv- of being on a college campus,

especially one as nicely landscaped as UT. You can walk past other students –even if they just stare at the ground or text awayand enjoy the atmosphere 24/7.

This is especially pleasant when the weather is nice, during Homecoming Week, or any other time campus is bustling.

Unfortunately, there are a few drawbacks to living on campus.

One is the constant supervision

by Residence Life that can be annoying at times but completely necessary. When you agree to live on campus, you give up certain liberties and agree to play by their rules.

In addition, the confusinglypriced meal plans are not exactly the best deal in the world, and I feel that many students don’t use up their meal swipes because they seek other dining options not covered by the plan.

This is incredibly inefficient –

You have to love how Dining Dollars force you to spend your money on campus- though I must say I didn’t mind the dining hall food. However, I must divulge that I have been from AVI to Aramark and haven’t eaten in a dining hall regularly in almost two years.

Off-Campus

Some students can’t wait for the day that they are able to move off campus. Others prefer to stick to their comfort zone on campus, or perhaps have realized that living off-campus isn’t always what it’s cracked up to be.

For some students like me, the financial aid received is contingent upon whether you live on campus or off campus. Offcampus students receive sub-

— Living, Page 8

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Thursday, February 17, 2011

Artists From Page 5

Photos courtesy of Jamal Armstrong

dividual. Other factors for choosing a small market to live in, including location, neighborhood, and type of housing are ultimately up to the individual’s personal style and preference, according to Armstrong. When asked about the atmosphere in Toledo and whether it was conducive to an artist, he had a mixed answer. After initially answering no, then changing his answer to a yes, he ultimately decided on no.

“My reason is that Toledo is not big enough for all aspects of art to flourish or develop,” Armstrong said. He did give a second answer to the question, saying “with technology being at an all-time high, people have unlimited resources to share their artwork through.”

Pictured are two of Jamal Armstrong’s paintings. Above is Armstrong’s first painting, entitled “For the Love of Money.” Below is Armstrong’s first sketch that led him to painting, entitled “The Cursed Ground.” Armstrong believes that his paintings allow him to express his Christian beliefs to those who view his artwork.

Ultimately, Armstrong believed that the environment does not make the artist, but that the artist makes the environment.

When asked if he would change anything about his artistic endeavors if he could, he said, “No, I can honestly say that my dream has not changed. I believe that every gift we are given is for the kingdom and not ourselves or the world. That is my dream for and purpose of my work.”

Punk poetry Michael Grover, a resident poet and writer at the Collingwood Arts Center, has been around the country, taking his writing even to Hollywood.

“I have lived all over the country,” said Grover, a south Florida native who also runs Covert Press, a DIY effort that combines the ethics of punk and poetry. “I have moved all over the place, from Philadelphia to Los Angeles, to even Connecticut. None of those places have been more open to me as a writer than Toledo. I regretted leaving LA, but I believe everything has a reason, including me being here in Toledo. I have to find out why I’m here.”

Grover came to Toledo after hearing about the Collingwood Arts Center while in Connecticut. “When I first came to Toledo, I felt the vibe from the CAC.”

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When asked if any of the other neighborhoods gave him the same vibe, Grover noted that being around UT gave him a negative one.

“When I was near UT, I never got the vibe,” Grover said. “The professors there were too affected by the academia to allow their writing to be free.”

Grover believes that a free writer is ultimately a better writer and that Toledo is a great city for aspiring artists to live.

“It’s a city on the edge,” Grover said.

“I believe that a city like this is a place where you can build from the ground up. The energy here in Toledo is everywhere.”

Grover also said Toledo was the best place he had seen for an aspiring artist to reside.

“Affordability is the main factor, but also comfort and being in a space where you can create,” he said. “If you’re not comfortable where you are, then it’s harder to create your art and the art is affected. The area determines your writing.”

Grover grew up as a punk kid in Florida. Punk has always been a part of his life, and he says that it will continue to be.

“When I was growing up, I just wanted to be who I was, and that was a punk kid,” Grover said. “I will always be that punk kid, going to punk shows, and my writing will reflect that. Writing is my life and my work. I have to write.

The world doesn’t feel right if I don’t.”

Kevin Sohnly / IC

Writer and poet Michael Grover and painter Jamal Armstrong are developing their respective crafts while residing in the Collingwood Arts Center.

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Living From Page 6 stantially less financial aid, which is something very important to consider when planning the move off campus.

Depending on where you live, the cost of living off campus could be much lower to slightly higher.

A variety of factors come into play here. Unlike living on campus, where each room has its own rate per student, the monthly payment of apartments and houses can be divided among a number of students. In addition, each landlord will have his or her own policies as to which utilities are included.

Even if the price ends up being lower, students should consider the hidden costs of living off campus, like having to fight for a parking spot and dealing with heavy traffic around class times. However, certain options can alleviate these concerns. My department is located in University Hall, which is closer to University Hills than any dorm, just like Olde Towne Apartments is closer to the Engineering buildings.

In addition to all of these considerations, living in a house off campus also carries more maintenance than a dorm or an apartment, but it probably offers the most bang for the buck if you

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Thursday, February 17, 2011

can find a place in a safe neighborhood. I lived on Maxwell Street north of Monroe Street my junior year. It was a nice, quiet, safe street and we may have been the only college students on the whole block. You couldn’t pay me to live “behind engineering.”

Conclusion

Where you live is obviously going to depend on what you value. If you enjoy the sense of community and comforts of living on campus, and don’t mind spending the extra money, then there may be no reason to move off. However, I do recommend spending at least one year off campus just to take the training wheels off and see what it would be like.

Living off campus obviously offers a lot more freedom, but also a lot more costs that students may not consider. Safety Nick Kneer / IC concerns and the extra stress of finding roommates to commit are two more The Crossings is one of nine residential halls on campus at the University of Toledo. things to think about. Sure you can find good deals off campus, but with lower Fewer freshmen are living on campus rent may come more safety concerns. this year compared to last, and many Also, dealing with landlords may be just From Page 4 rooms in residential halls have gone as frustrating as dealing with Residence Life. Generally, I am pleased with my deMain Campus, have drastically fallen in empty. This is largely due to higher adcision to spend two years on campus and prices. Some of these homes have dropped missions standards in several colleges. from $80,000-90,000 to $17,000-25,000, but Director of Residential Life Jo Camptwo years off, though I do still enjoy the although these homes now render the bell expects rooms to be overbooked occasional walk around campus to make cost of a new car, these are not the homes next year. me feel like I’m still in college!

“We’re not going to say you have to apparents are purchasing for their children.

“A lot of these parents are saying they ply for housing when we know we don’t are actually looking at options away from have a bed to put you in,” Campbell said.

With the price of houses dropping so Bancroft [Street] away, looking at Douglas [Road], Kenwood [Boulevard], going even much, students that had once rented are farther north,” said Bassett. now considering purchasing these homes Parents are looking in getting their kids for investment purposes. into much more established neighborOther students disagree, such as Chihoods, where they can still get a good buy nonso Agubosim, a junior majoring in but at the same time they are buying a chemical engineering, who said he would house that doesn’t need the work,” he never consider purchasing a home he said. “They want a house that in four years once rented for investment. they can sell and not lose money.

“I think when you’re a college student After their children move out, parents you have enough trouble with your own either sell or remain landlords of the prop- studies that managing a home to rent out erty. In some areas in the country, it be- to friends and other people is too stresscomes the parent’s retirement home. ful,” Agubosim said. “You don’t want to According to real estate agents, the resi- be tied down to something like a house dential hall system in colleges is set up so you’re renting out when you may still be students are encouraged to live off campus. looking for a job.”

Buying