Eyzenberg & Co. Structures Ground Lease and Selects Greystar to Develop a 424-Unit Student Housing Property Near Virginia Tech
BLACKSBURG, VA. — Greystar will redevelop an 11.5-acre site near Virginia Tech University into 424 student housing units. Sturbridge Square Apartments currently sits at the property, which is located at 1001 University City Blvd., one mile north of campus. The developer expects to break ground on the development this summer, with completion slated for fall 2022. Sturbridge Square Apartments currently comprises 11 buildings. The new community will offer six buildings offering one- through four-bedroom floor plans as well as townhomes. Communal amenities will include green recreational space, a half basketball court, swimming pool and a picnic area. David Eyzenberg of Eyzenberg & Co. with help from analyst Fan Yu structured the ground-lease on behalf of Sturbridge Square LLC and procured Greystar to develop the student housing community. BSB Design Inc. is serving as the architect of the redevelopment.