CHAPEL HILL, N.C. — Eyzenberg & Co. has selected Greystar to develop Grove Park, an 850-bed student housing community located at 425 Hillsborough St. in Chapel Hill, a half-mile from the University of North Carolina (UNC) at Chapel Hill campus. Eyzenberg arranged the 12.3-acre ground lease for the project, which is currently home to an existing 111-unit apartment community. Other terms of the deal were not disclosed. The community will include a mix of apartment units and townhomes, and will feature study spaces, a swimming pool, fitness facilities, five-level parking garage and a rooftop deck. Townhouse Apartments LLC, owned by the Segar Family, which also owns the land, developed the project concept, managed the design, coordinated the entitlement and delivered the permits. Greystar expects to break ground on the community this summer and deliver the project prior to the 2020-2021 school year.
