Student Housing

Servitas, National Park College Complete 180-Bed Student Housing Project in Hot Springs, Arkansas

by Alex Tostado August 24, 2020

HOT SPRINGS, ARK. — A public-private partnership between Servitas and National Park College has completed construction of Dogwood Hall, a 180-bed residence hall that will serve students of the public community college in Hot Springs. The community is National Park College’s first on-campus student housing building. The three-story property comprises 52 fully furnished units. Communal amenities include study lounges on each floor, package lockers, an onsite laundry room and resident parking. Servitas served as lead developer for the project and will manage the community. The development team also included BGO Architect, Design Collective, Annex and Stevens Financing. Students began moving into Dogwood Hall on Aug. 20 and in-person classes at National Park began today.

August 24, 2020

Development Florida Multifamily Southeast Student Housing Top Stories

Moss Construction Completes $134M University of Miami Lakeside Village Student Housing Property

by Alex Tostado August 20, 2020

CORAL GABLES, FLA. — Moss Construction has delivered University of Miami Lakeside Village, a $134 million, 1,115-bed student housing community on the University of Miami campus. The 569,441-square-foot, seven-story project features 25 interconnected buildings and several outdoor spaces. The property offers classrooms, music rooms, study areas, recreation rooms, a 200-seat auditorium and offices. The buildings also have food options, a package center and an exhibition hall. The university opened for in-person classes Monday, Aug. 17, a week earlier than planned due to the coronavirus pandemic. The fall semester will conclude Friday, Nov. 20, the week before Thanksgiving. To support sustainability initiatives, the property includes green roofs that absorb carbon dioxide to help clean the air and regulate the climate. Also, existing plant life was evaluated and, when possible, integrated into the landscape or relocated elsewhere on campus. Miami-based Arquitectonica designed the community. — Alex Tostado

August 20, 2020

Development Features Multifamily Student Housing

Student Housing Construction on Pace Despite Challenges Related to COVID-19

by Jeff Shaw August 19, 2020

Construction has been one of the lucky few segments of the economy that has continued humming along during the pandemic. Student housing projects are still going on as planned, as construction has mostly fallen into the “essential” category of business during the shutdown. While builders report there have been few supply-chain issues, there were some initial slowdowns related to delivery. “The only significant supply side issue we have had was on a project that we have under construction serving UMass Amherst,” says Brent Little, president of Fountain Residential Partners. The project, North 116 Flats, is under construction for delivery for fall of this year. “When the outbreak hit fever pitch, we had all of our cabinets and countertops for the project on a ship coming from China in the middle of the ocean. We were very puckered up until those six containers hit the port in Connecticut, and we received pictures of them on the dock. We are now installing those cabinets in the fourth building of five buildings, so that issue has been mitigated. We were worried about some other items, such as laminate flooring, that were coming from overseas as well, but it has all arrived. If it …

August 19, 2020

Development Indiana Midwest Multifamily Student Housing

City of Whiting, Calumet College of St. Joseph Open 32-Unit Apartment Property in Indiana

by Amy Works August 18, 2020

WHITING, IND. — The City of Whiting and Calumet College of St. Joseph (CCSJ) have opened the Illiana, a residential property located at 1200 119th St. in Whiting. The development, which is a public-private partnership between the two parties, offers proximity to CCSJ, downtown Whiting shopping and restaurants, as well as Lake Michigan. The Illiana features 32 units in three floor plans. Each unit offers granite countertops, nine-foot ceilings, kitchen islands, private balconies, two bedrooms and two bathrooms. The five-story building also offers 3,600 square feet of ground-level retail space. CCSJ has master-leased 12 units for three years at The Illiana as part of an initiative to provide housing opportunities for students. Holladay Properties, a full-scale land development, design/build and fully integrated real estate company, developed the property.

August 18, 2020

California Loans Multifamily Student Housing Western

UC Funds Provides $13M Construction Loan for Student Housing Project in Berkeley, California

by Amy Works August 6, 2020

BERKELEY, CALIF. — UC Funds has provided a $13 million construction loan for a student housing development in Berkeley. The undisclosed borrower plans to develop a 40-unit student housing project on the site, which is located on University Avenue adjacent to the University of California – Berkeley.

August 6, 2020

Acquisitions Georgia Multifamily Southeast Student Housing

Colliers Arranges Sale of 1,087-Bed Student Housing Community Near Georgia Southern

by Alex Tostado August 4, 2020

STATESBORO, GA. — Colliers International has arranged the sale of Cottage Row, a 1,087-bed student housing community located near the Georgia Southern University campus in Statesboro. Rialto Capital Advisors sold the property to a joint venture between XFD Real Estate Partners, Ash Real Estate, Saxum Real Estate and Anchor Real Estate Capital for an undisclosed price. Sean Baird, Jonathan Holt and Will Mathews of Colliers represented both the buyer and seller in the transaction. Cottage Row offers two-, three-, four- and five-bedroom units. Communal amenities include a 24-hour fitness center, computer lab, study lounge, full-court volleyball, a pool, movie theater, tanning bed and a private shuttle to campus. Georgia Southern plans to begin in-person classes for its fall semester Aug. 17. Nathan Lynch and Donald Jennewein, also with Colliers, arranged acquisition financing on behalf of the buyers. The non-recourse loan features a five-year term with a 3.6 percent fixed interest rate.

August 4, 2020

Development Multifamily South Carolina Southeast Student Housing

DMG Investments Completes 486-Bed Student Housing Community Near University of South Carolina Upstate

by Alex Tostado August 3, 2020

SPARTANBURG, S.C. — DMG Investments has completed construction on Auden Upstate, a 486-bed student housing community located near the University of South Carolina Upstate campus in Spartanburg. The development — which consists of seven buildings totaling 94,000 square feet — offers two-, four- and five-bedroom, fully furnished units with bed-to-bath parity. Communal amenities at the property include a fitness center, basketball court, clubhouse, yoga studio, business center and a pool. The community features the company’s clean-living program, which was developed to provide best practices in response to the COVID-19 pandemic. Leasing for the property is currently underway with move-in scheduled to begin this month. USC Upstate will begin its fall semester Aug. 20. Students will have the option to attend in-person classes or attend virtual classes.

August 3, 2020

Development Multifamily North Carolina Southeast Student Housing

Joint Venture Breaks Ground on 192-Bed Student Housing Community Near UNC at Pembroke Campus

by Alex Tostado July 30, 2020

PEMBROKE, N.C. — A joint venture titled PB Pembroke Owner LLC has broken ground on a 192-bed student housing community located near the University of North Carolina at Pembroke. The 192-bed project is Phase I of a larger development set to include 20,000 square feet of retail and a second 300-bed student housing community. Financing for the project includes $3 million in opportunity zone equity from the Woodforest CEI-Boulos Opportunity Fund, a $10.8 million loan from Self-Help Credit Union and $840,000 in developer equity. Phase I of the development is scheduled for completion in fall 2021.

July 30, 2020

Development Multifamily Student Housing Texas

Developers Complete 405-Bed Student Housing Project Near University of Houston

by Taylor Williams July 24, 2020

HOUSTON — A development team consisting of WGC Partners, a partnership of Steve Spessard of Gore Creek Partners LLC and Rocky Stevens and Mark Seger of Wellington Development Co., GRC Capital and Principal Real Estate Investors has completed Tower 5040, a student housing project located adjacent to the University of Houston’s main campus. The 147-unit property features one-, two- and four-bedroom units, as well as a game room, business center, fitness center, pool and a pet park. Dallas-based Humphreys & Partners designed the project, and Houston-based Arch-Con Construction was the general contractor.

July 24, 2020

Development Maryland Mixed-Use Multifamily Southeast Student Housing

Greenberg Gibbons, Caves Valley Partners to Open Student Housing Community Within $350M Towson Row in August

by Alex Tostado July 21, 2020

TOWSON, MD. — Greenberg Gibbons and Caves Valley Partners will open Phase I of Towson Row, a $350 million mixed-use development in Towson, in August. The first phase includes Altus, a 214-unit student housing community that will include retail and restaurant space on the ground level. Gilbane Development Co. is developing and managing Altus, which is located at the corner of Susquehanna Avenue and Towson Row, one mile north of Towson University. Located on the first level of the Altus building will be a 2,860-square-foot wine and spirits store, a 2,272-square-foot nail salon and a 2,750-square-foot BurgerFi restaurant. Towson University announced it will open for in-person and online classes Aug. 24. Towson Row is a five-acre mixed-use development that will include a 45,000-square-foot Whole Foods Market, more than 75,000 square feet of retail/restaurant space, 150,000 square feet of office space, 231 apartment units, the adaptive reuse of the former National Guard armory building into Towson University’s StarTUp and a 220-room dual-branded hotel.

July 21, 2020

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