REBusinessOnline

Joint Venture Receives $65M in Construction Financing for Student Housing Community Near University of Florida

GAINESVILLE, FLA. — A joint venture between 908 Group, Scannell Properties and Atlantic American Partners has received $65 million in construction financing for an unnamed development of a 604-bed student housing community near the University of Florida in Gainesville. First Merchant’s Bank, First Financial Bank and Old National Bank provided the construction loan for the community. TSB Capital Advisors acted as special advisor in the financing. The project will offer a mix of one-, two-, …

Development, Florida, Loans, Multifamily, Southeast, Student Housing

Annex Group to Develop $19.1M Student Housing Community Near University of Memphis

MEMPHIS, TENN. — The Annex Group will develop Annex of Memphis, a 208-bed student housing community near the University of Memphis. The Indianapolis-based developer expects development costs to total $19.1 million. The property will offer studio, two-, three- and four-bedroom floor plans. Rents will range from $1,050 per month per student for studios down to $705 per month for four-bedroom units. Communal amenities will include a fitness center and covered parking. The Annex of Memphis will …

Development, Multifamily, Southeast, Student Housing, Tennessee

Parkview Provides $9.5M Construction Loan for Student Housing Project in Prairie View, Texas

PRAIRIE VIEW, TEXAS — Los Angeles-based Parkview Financial has provided a $9.5 million construction loan for a 120-unit student housing project in Prairie View, about 50 miles northwest of Houston. The property will serve Prairie View A&M University and represents the first phase of a 390-unit development that will be known as Prairie View Plaza. The first building will consist of 72 one-bedroom units and 48 two-bedroom units with full kitchens and individual washers and dryers. Phase I …

Loans, Multifamily, Student Housing, Texas

Aspen Heights Breaks Ground on 752-Bed Student Housing Community Near Washington State University

PULLMAN, WASH. — Aspen Heights Partners has broken ground on Aspen Heights Pullman, a 752-bed, cottage-style student housing community for students attending Washington State University.The property will offer a mix of two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities will include a community building, hot tub, fitness center and an on-site shuttle to campus. The development is scheduled for completion in fall

Development, Multifamily, Student Housing, Washington, Western

KWA Construction Completes Phase II of 76-Unit Student Housing Project in Sherman, Texas

SHERMAN, TEXAS — General contractor KWA Construction has completed Phase II of a student housing project for Austin College, a liberal arts school located in the North Texas city of Sherman. The second phase delivered 38 units within a 43,613-square-foot building. Phase I, which was completed in 2011, also consisted of 38 units within a 43,010-square-foot building. Dallas-based Architecture Demarest designed Phase II of the project, which will open in time for the resumption of fall classes …

Development, Multifamily, Student Housing, Texas

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

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 …

Arkansas, Development, Multifamily, Southeast, Student Housing

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

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 …

Development, Florida, Multifamily, Southeast, Student Housing, Top Stories

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

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 …

Development, Features, Multifamily, Student Housing

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

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 …

Development, Indiana, Midwest, Multifamily, Student Housing

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

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 –

California, Loans, Multifamily, Student Housing, Western
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