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16 <br />2014 Student Generation Numbers* <br />• New Student Generation Rates <br />— Broken out by Sub -Areas (Chapel Hill & ETJ) <br />— Separate factors for number of bedrooms <br />• Multifamily: 0 -2 bedrooms, 3+ Bedrooms &Average) <br />— Based on market demand we believe that student <br />generation for Ephesus Fordham Development <br />will be mostly 1 -2 bedroom multi - family units <br />* Note: Based on preliminary un- adopted student generation rates <br />