Some developers are taking advantage of the growing citywide student population and transforming condominiums into student housing. In March, NYU bought Gramercy Green, a new 21-story, 300-unit building. The building will open this fall with housing for 900 undergrads and some faculty. St. Clare’s Hospital in Midtown will re-open in spring 2009 with 115 units of student housing. The building is owned by New Brooklyn Development, which has built dorms for Pratt University and NYU. As The Real Deal reported, Columbia University is buying a failed condo building in Riverdale.