Student Housing

Universities, Student Housing Properties Face Hurricane Harvey

by John Nelson August 31, 2017

HOUSTON AND COLLEGE STATION, TEXAS — Hurricane Harvey has brought massive amounts of rain, flooding and destruction to southern Texas, but reports show that on- and off-campus student housing properties have largely escaped the worst of the damage. The Texas Tribune reports that colleges in Houston have cancelled class and evacuated some student housing as the rain continues to fall and floodwaters continue to rise. About three buildings on the University of Houston campus have taken on water, and 140 students were evacuated from Bayou Oaks, a university-owned, off-campus apartment complex for older and international students. Most universities in Houston — such as Rice University and Victoria College — reported minor damage including leaks and power outages. Texas A&M University-Corpus Christi also reported minor structural damage, according to The Texas Tribune. The first day of classes has been pushed to September 5. Texas A&M University’s Kingsville and College Station campuses also reported no major building damage or flooding, and plan to begin classes early next week. Servitas reports that Park West — a 3,406-bed student housing community developed through a public-private partnership with Texas A&M University in College Station — did not receive any damage or leakage during the storm. The …

August 31, 2017

California Multifamily Student Housing Western

Landmark Properties Announces New Student Housing Project Starts, Deliveries

by Nellie Day August 30, 2017

BERKELEY, CALIF. — Landmark Properties has announced $2 billion worth of student housing project starts and deliveries. The developer delivered close to 5,000 beds this fall, including a student housing project called Stonefire at Berkeley near the University of California, Berkeley, in Northern California. In addition to its fall deliveries, the company has begun working on 11 new developments totaling more than 8,000 beds. These projects included the Standard at Flagstaff near Northern Arizona University and the Mark at Tucson near the University of Arizona. Landmark is also slated to break ground on another 12 projects totaling close to 9,000 beds in 2018.

August 30, 2017

Michigan Midwest Multifamily Student Housing Top Stories

EdR, Northern Michigan University Open First Phase of $75.4M On-Campus Housing Development

by Katie Sloan August 29, 2017

MARQUETTE, MICH. — A public-private partnership between EdR (NYSE: EDR) and Northern Michigan University has opened The Woods, a 417-bed living-learning community located on the university’s campus in Marquette. The property is the first phase of a $75.4 million, 1,229-bed development scheduled for full delivery in 2018. The community features robust internet and wi-fi capabilities, classrooms, study rooms, television lounges and laundry facilities. A large patio area, fireplace and an open lobby are designed to accommodate art shows, student events, university functions and various types of entertainment for residents year round. “When we began this relationship with Northern Michigan University in 2016, we were struck by how dedicated the entire campus was to modernizing and revitalizing the on-campus housing for current and future students,” says Randy Churchey, CEO of EdR. “From student recruitment and retention, to graduation and academic success rates, we’ve seen first-hand what an impact high-quality on-campus housing can make for a university, as well as its students.” EdR is leasing the land from the university and owns the community through its on-campus equity plan titled the ONE Plan program. This public-private partnership is the largest construction project in the university’s history. EdR is one of America’s largest …

August 29, 2017

Multifamily Student Housing Texas

Servitas Breaks Ground on Residence Hall at Junior College in Brenham, Texas

by John Nelson August 28, 2017

BRENHAM, TEXAS — Servitas LLC, a privately owned student housing developer based in Dallas, has broken ground on a new 464-bed, four-story residence hall at Blinn College, a two-year school in Brenham with more than 19,000 students. Situated at the corner of Seager Street and Old Mill Road, the property will feature approximately 9,000 square feet of common space, including study spaces, an outdoor courtyard and an engineering classroom. Houston-based Kirksey Architecture is designing the project, and El Paso-based Moss & Associates is the general contractor. Servitas expects for students to be able to move in by fall 2018. Raymond James Financial is completing financing for the project on behalf of Servitas.

August 28, 2017

Midwest Missouri Student Housing

St. Louis College of Pharmacy Opens $50M Recreation and Student Center

by Kristin Harlow August 28, 2017

ST. LOUIS — The St. Louis College of Pharmacy has opened its new $50 million recreation and student center. The 193,000-square-foot building marks the end of a two-phase construction project that has added more than 400,000 square feet of space to the campus. Features of the new building include a 10,000-square-foot recreation center, a 350-seat dining hall and a 220-bed residence hall for first- and second-year students. The additional residence hall will double the amount of living space on campus. The building will also house the college’s intercollegiate athletic programs, giving student athletes access to a 1,100-seat competition gymnasium and training facilities. The building also features a recreation gymnasium, a 200-meter track, meeting rooms and a student center with student support offices. St. Louis-based Forum Studio designed the building. Paric Corp. managed the project construction.

August 28, 2017

University-Housing-Solutions-Delaware-State-University

Delaware Multifamily Northeast Student Housing

University Housing Solutions to Develop Student Housing Project Adjacent to Delaware State University

by Jaime Lackey August 25, 2017

DOVER, DEL. — University Housing Solutions (UHS) is developing a student-focused residential campus on 30 acres of land it owns adjacent to Delaware State University (DSU) in Dover. During its discussions regarding a potential public-private partnership development with DSU, UHS learned of an immediate, urgent need for student housing. To meet this demand, UHS will build a 500-bed student housing project with the ability to add an additional 1,500 beds. The UHS project will include a food court and retail space. UHS will address the current student housing shortage through an expedited approval, design and construction effort, and will have sufficient remaining land to provide for future student housing needs within a master-planned, student-oriented residential campus. Martin Kimmel, principal of Kimmel Bogrette Architecture + Site, is leading the effort for UHS. Other members of the UHS project team include Skanska USA (construction) and Asset Campus Housing (management, maintenance, and operations).

August 25, 2017

Illinois Midwest Multifamily Student Housing Top Stories

JV Purchases 1,732-Bed Student Housing Development in Chicago for $201M

by John Nelson August 24, 2017

CHICAGO — A joint venture between real estate investment firms AXA Investment Managers – Real Assets and Blue Vista Capital Management has purchased University Center Chicago, a 1,732-bed student housing complex located at 525 S. State St. in Chicago’s South Loop district. Educational Advancement Fund (EAF) sold the asset to the joint venture for $201 million. University Center Chicago was jointly developed in 2004 by three major universities in Chicago – Columbia College Chicago, DePaul University and Roosevelt University. The 702,000-square-foot project features student housing, dining facilities, recreational areas, music practice rooms, conference center operations and ground-floor retail space. As part of the transaction, the three universities each negotiated a long-term lease with the new ownership to remain in the facility. John Jaeger, Dan Cohen and M.J. Zaring of CBRE represented EAF in the transaction in partnership with CBRE’s National Student Housing Team, headed by Jaclyn Fitts and William Vonderfecht. CBRE also partnered with Kevin Hoecker and Chris Good of RBC Capital Markets, as well as RBC’s Real Estate Investment Banking team. Peter Marino and Molly Green of CBRE’s Chicago office partnered with the Dallas CBRE Capital Markets Debt & Structured Finance team of Mike Bryant, Jon Wooton and Ben …

August 24, 2017

Multifamily Northeast Pennsylvania Student Housing

University of Pennsylvania Completes $80M Renovation of 261-Unit Student Housing Property

by Jaime Lackey August 23, 2017

PHILADELPHIA — The University of Pennsylvania has completed the $80 million renovation of Hill College House, a 261-unit on-campus residence hall. The five-story, 195,000-square-foot property offers student lounges, seminar rooms and a 300-seat dining area. Mills + Schnoering Architects of Princeton, N.J., led the design and construction team for the project. The property was originally designed by Eero Saarinen and built in 1960 as a women’s dormitory. Renovations at the property included the restoration of the building’s ‘drawbridge’ entrance and landscaped ‘moat’; the removal, restoration and refitting of over 400 windows; an expansion of the dining facilities; the addition of new furniture and finishes; and the conversion of all bathrooms to individual restrooms and shower rooms.

August 23, 2017

Multifamily Student Housing Texas

Servitas, Texas A&M Complete Nation’s Largest Student Housing Property Near Texas A&M

by Taylor Williams August 22, 2017

COLLEGE STATION, TEXAS — Servitas and Texas A&M University have completed Park West, a 50-acre, 3,406-bed student housing property located at 503 George Bush Drive W in College Station. Construction on the 2.2 million-square-foot property, which is the largest student housing development in the country, began in August 2015 and was completed a week ahead of schedule. Amenities include a coffee shop, volleyball court, jogging trail, game rooms and a convenience store. Servitas will manage the property. Weitz served as general contractor on the project.

August 22, 2017

California Multifamily Student Housing Western

AMCAL Opens 660-Bed Community Near California State University, Stanislaus

by Nellie Day August 21, 2017

TURLOCK, CALIF. — AMCAL Equities LLC has opened The Vista, a 660-bed student housing community located near California State University, Stanislaus in Turlock. The property offers one-, two-, three- and four-bedroom units. Community amenities include a clubhouse with outdoor volleyball and basketball courts; a resort-style swimming pool; outdoor television lounge; theater; cyber café with free coffee; and 24-hour fitness center. Asset Campus Housing is managing the property. Humphreys & Partners Architects LP designed the community, and AMCAL General Contractors Inc. managed construction. Coleraine Capital Group, AMCAL’s joint venture partner, sourced the land and assisted with the entitlement process.

August 21, 2017

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