JLL has brought back a real estate executive who specializes in working with public institutions and on public-private partnerships to expand its business in higher education, a move that comes as colleges and universities grapple with higher costs to house students and faculty.
The Chicago-based brokerage said it hired Krista Trofka as vice president of its higher education advisory business that is part of JLL's government and education division. Trofka rejoined JLL from DLR Group, where she led the design firm's business development efforts and strategy for the higher education sector. She is based in JLL's Denver office.
In her new role at JLL, she will lead strategy and client development efforts nationally for its higher education business and provide leadership for growth planning and engaging with the market, the brokerage said. JLL also said she will work closely with Bob Hunt, group managing director for the government and education division, and Executive Vice President Lindsay Stowell, who also serves as its national education advisory leader.
"Her knowledge of campus planning, student housing, academic and research facilities, public-private partnerships and sustainability initiatives will enable JLL to continue growing to meet the evolving needs of college and universities," Stowell said in a statement.
JLL is working to beef up its higher education business as colleges and universities across the country work to figure out how to ensure they have enough housing that students, faculty and staff can afford. This year, institutions of higher education have broadened their focus on housing issues, especially from a cost perspective, JLL said in a recent report.
"High costs of housing in most markets across the country is the driving factor for placing an increased emphasis on resolving the preeminent housing question for both students and employees," according to the brokerage's 2024 Education Trends to Watch report. "As the cost of attendance at higher education institutions rises, students are considering a multitude of factors, including housing, when deciding where to attend college."
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Moreover, if colleges and universities do not provide ample housing, "that will act as a deterrent for students making their college decision," JLL said.
Institutions also must invest in housing for their professors, instructors and staff, JLL said. It added that investments in affordable and workforce housing will increase this year as colleges and universities compete for talent.
"On average, market effective rents average higher than student and workforce housing rents, so, particularly for institutions in expensive markets, this option of affordable housing will be a crucial trend to focus on in 2024," JLL said.
As for Trofka, she has been immersed in the education industry. In the past, she worked as a public school teacher through the Teach for America program. For the past 11 years, she has taught courses in urban planning and development as an adjunct lecturer at the University of Colorado.
During her first stint at JLL, from 2014-2017, Trofka worked with the firm's project and development services business, where she focused on real estate strategies for government and education clients in Colorado.
In a LinkedIn post announcing her new job, she said she's spent more than 17 years "thinking about ways to innovate in the public sector to create healthy, happy, and affordable places to live, work, and educate."