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The project will comprise 157 apartment units and 7,500 square feet of ground level retail space. There will be a vast range of amenities like an outdoor hot tub, club room, fitness center, study rooms, leasing lounge and residential parking. Unlike residential REITs like AvalonBay Communities, Inc. AVB and Equity Residential EQR, whose rental units are open for leasing to all, student housing REITs such as American Campus Communities ACC and EdR lease their real estate units to students. Hence, such real estates are generally set up in places in proximity to colleges and universities. Moreover, enrolment growth acts as a major driver for student housing assets. In fact, with a higher education earnings gap millennials with high school diploma earning just 62% of what the college graduates are making enrolment statistics is likely to get a boost. Particularly, the Iowa State University, founded in 1858, is a public flagship land-grant and space-grant university in Ames, IA.