Luxury apartments across campus not for students
By Joshua Bourne
The new housing complex across from the east side of campus will begin leasing apartments this fall. However, the price tag on these apartments may give students sticker shock.
The Domicilio apartments are scheduled to open in the first week of June. Located next to Stephen Schott Stadium on El Camino Real, the apartment complex contains luxury units and resident facilities.
Domicilio offers several different unit styles for prospective clients. Within the complex, the rental units range from studio apartments to three-bedroom, two-bathroom spaces.
The cheapest apartment, a one-bedroom studio, ranges in price from $1,385 to $1,610 per month. A two-bedroom apartment will cost between $2,195 and $3,200 per month. The cost of three-bedroom apartments begins at $3,200 per month and caps off at $3,500 per month, the most expensive rate in the complex.
Though just across from campus, the apartments -- whose prices might be above the average student's budget -- are not designed to provide student housing.
The complex also does not contain shops of any type; however, the development literature stresses the complex's close proximity to Santana Row.
"I definitely would want to look at the price range, but, in the end, it may not matter because I would have roommates," junior Stephanie Le said. "It's convenient because it has everything that you need."
Units come fully furnished with appliances and central air conditioning. The selling points that the development company, Prometheus, emphasizes are the private decks, tall windows and high ceilings of the units. Some apartments overlook Schott Stadium, allowing lucky residents season tickets to Bronco home games.
"It's a great place to live, I would recommend it to anyone," Kelly Meier, senior portfolio manager at Prometheus said. "We market to everyone."
While there is interest in the apartments, the high cost might prohibit some from considering Domicilio as a housing option.
"I would not consider it," law professor Tyler Ochoa said. "Tax advantages that come from ownership, over rentals, is substantial. I'd be surprised if any faculty member that wasn't single would consider it, except for a short-term housing need."
Students also are put off by the high cost, no matter how many amenities an apartment might offer.
"No. It's too expensive," said Weng Lei, a first year psychology graduate student. "I would need to have five roommates to live in a three-bedroom apartment. The price is the most important thing. All the extra perks don't matter to me."
Tours of the apartments are being offered and move-ins are scheduled for early summer. Prometheus is currently accepting residence applications.