MSN Real Estate's main consumer base will be primarily students at the University of Oregon who will benefit from the apartment's unparalleled level of quality, location, and technological amenities. We will also be marketing to local area professionals and recent graduates, along with faculty and staff at the University. These customers will be looking for safe, high-quality environments that can foster the type of atmosphere needed for scholastic and professional success.
We believe that our unparalleled level of quality and technological amenities put MSN into a niche of its own. This will be the focal point of all our marketing and advertising efforts. These segments are also easily reached through local newspapers and publications, as well frequent open house displays.
It is essential for MSN patrons to understand that their needs are our priority.
This industry is constantly evolving and leaving many inflexible companies stagnant. One of the major trends is the need to adapt to technological advancements as well as maintaining the overall appearance and condition of the complexes.
Another important trend is adapting to higher density housing in smaller areas due to urban growth boundaries, etc. MSN is dedicated to following these trends while maintaining the level of comfortable livability that sets us apart from our competitors.
The market for high quality, reasonably priced apartment units has been growing at a rate of 6.7% since 1996. Oregon's rental rates have remained even, averaging $697, or $.79 per square foot, during the fourth quarter of 1997. The Oregon market is experiencing rapid employment growth that is fueling demand for apartments, but not many new units are emerging. Not only is MSN pioneering this particular niche of affordable quality living, but it is capitalizing on the strength of the current economic growth in Oregon.
Each of our targets need the quality, convenience, service, safety, comfort and technological amenities that can only be found at our living complexes.