Anyone ever try to develop a "dorm" type building for college students?

[Travis Bill]

Colleges make a lot off of housing. It seems a privately developed one could charge a lot less than the 4-700 a month that students pay to stay in those.

Iv thought about this a lot and it could be a relatively cheap building considering you would have central kitchens and bathrooms.

2 to a room at 150 a month a piece.

300 per room. 200 square feet per room and thats pretty good sized.

Could make a lot off rent with say a 12-16 room building.

2400-3200 square feet living space plus bathroom/kitchen/laundry

3600-4800 a mo in rent.

What you all think of something like that?

Im guessing that it would be nearly impossible to get permits for something like this, and maybe thats why iv never heard of it before.