SEATTLE — Peak Campus Development and investment partner Blue Vista Capital Management have acquired a development site located near the University of Washington in Seattle, with plans to construct a student housing community.
The new project — titled Theory U District — is set to offer 500 beds in studio, one-, two-, three-, four- and five-bedroom, fully furnished units. Shared amenities will include a rooftop deck, multiple study rooms, a landscaped courtyard for outdoor activities, a fitness room, package lockers and parking.
University Christian Church (UCC), which previously owned the property, moved out last summer. According to a press release issued by UCC last year, proceeds from the sale will go into a foundation established by remaining UCC members.
UCC already demolished the existing buildings, and vertical construction for Theory U District will commence later this year with a projected opening in fall 2022.