GILBANE DEVELOPS 267-BED PROPERTY NEAR BROWN UNIVERSITY

PROVIDENCE, R.I. — Construction is underway on 257 Thayer, a 267-bed student housing community, developed by Gilbane Development Co. The property will cater to undergraduate and graduate students attending Brown University and Rhode Island School of Design (RISD). It opens January 2015, and according to Gilbane, it is the first off-campus, purpose-built student housing community in Providence. Asset Campus Housing will lease and manage the property. The four-story community, located in the College Hill area, will be a multi-purpose facility that includes retail space on Thayer Street and an underground, heated parking garage with 75 spaces. Community amenities include a clubhouse room with high definition TVs and gaming tables; group study rooms; fitness center; bike storage; high-speed internet and Wi-Fi; and 24-hour resident services.