IRVINE, CALIF. — American Campus Communities (ACC) has closed on $191 million in financing for a 1,065-bed student housing development on the University of California, Irvine (UC Irvine) campus. The project is being developed in partnership with the Collegiate Housing Foundation, which will serve as the community’s owner, borrower and lessee. The development is scheduled for completion in fall 2028 and will span 387,000 square feet across two buildings.
The community will offer 308 fully furnished units in studio through four-bedroom configurations designed to target undergraduate students. Shared amenities are set to include dedicated study areas, indoor social lounges, furnished outdoor courtyards, bicycle storage and laundry facilities.
The development team for the project, which is targeting LEED Gold certification, includes KTGY and Benchmark. The partnership between ACC and UC Irvine spans 25 years and will include the delivery of 8,700 beds upon completion.