The first reaction that I had was that a 6-7 person to an apartment ratio would be pretty unpleasant…based on my undergraduate visualization of cramped triple spaces that a number of universities use. It seems that these apartments are more like 2,700 sq/ft and look pretty palatial: http://mungerresidences.org/ The dining areas alone are, apparently, around 1,000 sq/ft. The bed rooms are large and the bathrooms are separate. Even given the size of the cohabiting group, the central location and fairly reasonable cost and the fit/finish suggests that these apartments will be in demand.
These types of designs are nothing new in the private sector blue85. There are quite a few buildings like this around A2 already. What is unique is that this building will be for graduate students only. That should create quite a different dynamic for those who will be living there.