MARINA, CALIF. — AMCAL Monterey Bay LLC has opened The Promontory, a 174-suite, 579-bed off-campus student housing development near the campus of California State University at Monterey Bay.
The development is comprised of three four-story buildings featuring 174 fully furnished suites, in which students share a common kitchen and living room in the two-, three-, and four-bedroom housing pods. Each bedroom has its own bathroom, and each individual bedroom locks for privacy and security. Each of the three buildings also features an interior courtyard for studying and socializing.
The community shares 6,500 square feet of interior common amenities that include study rooms, a cyber cafe with kitchen facility, computer lab, theater, game room and fitness center, as well as an outdoor basketball court.
AMCAL Monterey Bay LLC purchased the 8.27-acre parcel of land from the City of Marina in January 2014. The project is privately funded by Bank of the West and private equity financed. Construction was completed in 18 months, which included the demolition of the abandoned Fort Ord Motor Pool.
The development will be managed by the University Corp., the nonprofit that manages all of the campus’ student housing. AMCAL Monterey Bay LLC negotiated and signed a 20-year master lease with the University Corp. CSU Monterey Bay for all 174 units and 579 beds. The development is fully occupied with a waiting list for residency.