Gilbane Announces Two New Student Housing Developments in Arizona, Oregon
TEMPE, ARIZ., AND CORVALLIS, ORE. — Providence, R.I.-based Gilbane Development Co. has announced the launch of two new developments in Arizona and Oregon as part of five recently announced projects across the United States. The five properties total over 3,500 beds, with project costs valued at more than $400 million.
In Tempe, Ariz., Gilbane is developing Alor, a three-building, purpose-built student housing and market-rate/workforce housing property. Situated 1,000 feet from Arizona State University’s Tempe campus, the property will feature 946 student beds and 64 units of market-rate/workforce apartments, as well as 12,000 square feet of retail space and a structured parking garage. On-site amenities will include a rooftop swimming pool; courtyard swimming pool; 25,000-square-foot rooftop amenity deck and sky lounge; 6,000-square-foot open-air fitness center with cardio, full weights and a fitness/yoga center; outdoor courtyards with fire pits and cabanas; spa; central clubhouse; 24-hour study lounges; game rooms; and a computer lab.
Adjacent to the southeast corner of Oregon State University’s campus in Corvallis, Ore., Gilbane’s Sierra will feature 228 student housing units, a heated pool, clubhouse, fitness center, game room, group study rooms, structured parking, garage and three courtyards. Additionally, the property is located a few blocks from downtown Corvallis.
The additional properties include Octave, a 538-bed community located near the University of Illinois at Urbana-Champaign in Champaign, Ill.; Towson Row, a 720-bed community located near Towson University in Towson, Md.; and Bixby, a 656-bed community located near Kennesaw State University in Kennesaw, Ga.
Each community will offer fully furnished units with bed-to-bath parity and shared amenities including fitness centers, personal and group study areas, clubhouses and swimming pools. All properties are scheduled to begin operations by fall 2020, apart from Octave at the University of Illinois, which is scheduled for fall 2019 occupancy.