TEMPE, ARIZ. — EdR has completed its purchase of The District on Apache — a community serving Arizona State University (ASU) in Tempe, Arizona — for $89.8 million. EdR announced it had agreed to purchase the property in June.
The District on Apache was developed by Residential Housing Development and was designed by Humphreys & Partners architects. It opened in 2013. The 900-bed community is a half-block from the ASU Tempe campus. It is 100 percent leased for the coming academic year.
The District on Apache provides a variety of studio, one-, two-, three-, four- and five-bedroom floor plans along with a 770-space parking garage. Each apartment contains private bathrooms, granite countertops, stainless steel appliances, washer and dryer, flat-screen television and custom furniture. Amenities include a lazy river pool with giant outdoor video screens, clubroom, virtual golf course, two-story fitness center, and computer lab/business center.
In 2013 Arizona State University had a total full-time enrollment of nearly 62,000 undergraduate and graduate students. Current on-campus housing consists of slightly more than 12,300 beds.