Student Housing

Volume of Package Deliveries Opens Pandora’s Box for Student Housing Managers

by Katie Sloan December 5, 2019

If you have sufficient room and staff at your property to handle the influx of package deliveries today, chances are good you may come up short tomorrow. “I’m sure in a few years, I will say the same thing I said two years ago: We still don’t have large enough package areas,” says Kristen Penrod, a principal with Parallel. Most properties report receiving an average of 150 to 200 packages per day. But at larger properties, and during peak times such as move-in, deliveries can multiply quickly. “During the busier times of year, 600 a day is not unheard of,” says Matt Fulton, managing director with Greystar. “The sheer volume is concerning. Properties built even five years ago don’t have the room to store that many packages.” According to American Campus Communities’ 2019 Spring Living Survey, the REIT was able to identify that on average, 91 percent of residents receive one package a week and that 86 percent of residents retrieve their packages within 24 hours. Craig Meddin, founder and CEO of Postal Solutions, which has been delivering mail and packages to student housing for 20 years, says that package volume is increasing 15 percent year-over-year. “We have some student …

December 5, 2019

Features Mixed-Use Student Housing

Providing the Perfect Student Housing Amenity Through Mixed-Use Space

by Katie Sloan December 3, 2019

Both on- and off-campus, today’s student housing developments are providing more than just a place for students to rest their heads. Off campus, new communities are featuring everything from fashion boutiques and restaurants, to office and event space, while residence halls are bringing academics to student’s doorsteps with built-in incubator space and classrooms. While the addition of a mix of uses may seem like the perfect fit for ground floor space, careful planning and consideration is imperative to ensure that the development is a success — especially when it comes to retail. Choosing The Right Mix On the development side, successful mixed-use space should begin with thoughtful deliberation. Developers must consider not only the needs of the student population, but the community at large. “At the outset, we evaluate whether there is true retail market demand in locations where we target development,” says JJ Smith, president of CA Student Living. “If there isn’t a sufficient population base, it can be difficult for even the best businesses to survive, much less thrive. We don’t want to force retail in locations that simply don’t make sense.” Wes Rogers, president and CEO of Landmark Properties, knows firsthand how important careful planning can be when …

December 3, 2019

Arizona Development Multifamily Student Housing Western

Public-Private Partnership Starts Construction of 374-Bed Residence Hall at Arizona State University Polytechnic

by Amy Works November 22, 2019

MESA, ARIZ. — Construction is underway on a 374-bed mixed-use community on the Arizona State University Polytechnic campus in Mesa. A public-private partnership between the university, Capstone Development Partners and equity partner Harrison Street is developing the $34.2 million community. The development will offer private- and shared-bedroom suites. Shared amenities include a main floor lounge and common kitchen; study space and lounges on each floor; and 8,500 square feet of academic space including classrooms, offices, conference areas and meeting areas. The project is scheduled for completion in fall 2020. Shepley Bulfinch is the designer, while CORE Construction is the general contractor for the development.

November 22, 2019

Acquisitions Midwest Missouri Multifamily Student Housing

GMH Capital, AGC Equity Acquire 428-Bed Student Housing Community Near Washington University in St. Louis

by Kristin Harlow November 20, 2019

ST. LOUIS — A joint venture between GMH Capital Partners and AGC Equity Partners has acquired Everly on the Loop, a 428-bed student housing community serving students at Washington University in St. Louis. Built in 2017, the 192,390-square-foot community offers one-, two- and three-bedroom units that average 899 square feet. Shared amenities include a fitness center, yoga room, game room, swimming pool and indoor and outdoor entertainment spaces. The seller and terms of the transaction were undisclosed.

November 20, 2019

Development Georgia Southeast Student Housing

Stratus Development Breaks Ground on 286-Bed Student Housing Community Near University of Georgia

by John Nelson November 19, 2019

ATHENS, GA. — Stratus Development Group has broken ground on The Haven of Athens, a 286-bed student housing community located one-and-a-half miles from the University of Georgia’s main campus in Athens. The development will offer two-, three-, four-, five- and six-bedroom, cottage- and townhome-style units with bed-to-bath parity. Shared amenities will include a resort-style swimming pool, study rooms, a fitness center, dog park, hammock park, fire pit and covered parking. The development is scheduled for completion in fall 2020.

November 19, 2019

Acquisitions Illinois Midwest Multifamily Student Housing

OC Ventures Acquires 482-Bed Student Housing Community Near University of Illinois at Chicago

by Kristin Harlow November 19, 2019

CHICAGO — OC Ventures has acquired Automatic Lofts, a 482-bed student housing community located adjacent to the University of Illinois at Chicago campus. The property — originally built as a telephone factory in 1901 — offers one-, three- and four-bedroom, loft-style units. Shared amenities include a fitness center, study lounges on each floor, a café, recreation room and laundry services. The new ownership plans to implement capital improvements such as building out a larger fitness center, renovating lobby and study areas and updating apartment furniture. Varsity Campus will manage the community. The seller and terms of the transaction were undisclosed.

November 19, 2019

Development Multifamily South Carolina Southeast Student Housing

Scannell, 908 Group Break Ground on 486-Bed Student Housing Development Near University of South Carolina

by Alex Tostado November 14, 2019

COLUMBIA, S.C. — A joint venture between Tampa-based 908 Group and Indianapolis-based Scannell Properties has broken ground on The Nine at Columbia, a 486-bed student housing community located near the University of South Carolina in Columbia. The community will consist of one five-story building and six two-story buildings offering townhomes. Shared amenities will include a sauna, fitness center, swimming pool, spa, an outdoor barbecue area and fire pits. FaverGray is serving as the general contractor. The development is set for completion in summer 2021.

November 14, 2019

Development Georgia Multifamily Southeast Student Housing

Joint Venture Breaks Ground on 532-Bed Student Housing Community Near Georgia Tech

by Alex Tostado November 13, 2019

ATLANTA — A joint venture between Campus Realty, Realiance and T2 Capital Management has broken ground on Catalyst, a 187-unit student housing community in Atlanta that will service Georgia Teach students. The joint venture expects the 532-bed property in West Midtown to open in time for fall 2021 classes. Communal amenities will include a fitness center, study rooms, club rooms, game areas, STEM lab, bike shop with storage area, sky deck with views of the Atlanta skyline, three courtyards, swimming pool with deck, grilling areas, 24-hour package delivery lockers and ride-share pick-up. Realiance is an investment group headquartered in Amsterdam, and T2 is a privately held real estate investment firm based in Wheaton, Ill. Atlanta-based Campus Realty will oversee the development and asset management of the property.

November 13, 2019

Acquisitions Multifamily Student Housing Texas

Scion Acquires 502-Bed Student Housing Community Near UT Austin

by Taylor Williams November 6, 2019

AUSTIN, TEXAS — Scion Student Communities, a joint venture between the Canada Pension Plan Investment Board (CPPIB), GIC and The Scion Group, has acquired MUZE, a 502-bed student housing community located two blocks from the University of Texas at Austin. The newly built property offers one-, two-, three-, four- and five-bedroom units with shared amenities including a rooftop pool, sky lounge and study and recreation spaces. A partnership between Kayne Anderson Real Estate and developer Parallel Co. sold the community for an undisclosed price. Scion Student Communities now owns 75 student housing communities totaling more than 48,000 beds in 52 university markets.

November 6, 2019

Acquisitions Multifamily Student Housing Texas

Joint Venture Acquires 828-Bed Student Housing Community Near Texas A&M

by Taylor Williams November 4, 2019

COLLEGE STATION, TEXAS — A joint venture between Texla Housing Partners and a private equity real estate fund advised by Crow Holdings Capital has acquired University Trails, a 828-bed student housing community serving students at Texas A&M University in College Station. The property offers one-, two-, three- and four-bedroom units. Shared amenities include a resort-style swimming pool, hot tub, sand volleyball court, basketball court, two fitness centers and a 24-hour study lounge and cafe. The joint venture plans to renovate the community’s interior, exterior and office/clubhouse building. A timeline for renovations was not announced. Ryan Lang, Brandon Buell and Jack Brett of Newmark Knight Frank brokered the transaction.

November 4, 2019

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