NASHVILLE, TENN. — A public-private partnership between Balfour Beatty Campus Solutions, Axium Infrastructure and Vanderbilt University has broken ground on a 616-bed student housing project in Nashville.
The total cost of the project was not disclosed, but the Nashville Post and Nashville Business Journal both reported late last week that the development team received approximately $107 million in construction financing. According to Vanderbilt University’s news service, construction of the project was originally scheduled to start last summer but was delayed due to COVID-19.
The community will be located on Broadway between Lyle and 20th avenues and will include 25,000 square feet of retail space. The new residence hall will offer a mix of studio, one- and two-bedroom units targeting graduate and professional students. Residences will be furnished with full washers and dryers, and costs of utilities will be included in rent.
Shared amenities will include a 13,000-square-foot collaboration space with a dedicated area for academic and entrepreneurial endeavors, private study spaces, fitness center and a public courtyard.
“Providing an updated housing option with modern amenities in a vibrant neighborhood convenient to campus will further the university’s goal to recruit the best graduate and professional students and provide them with an exceptional experience,” says Bob Shepko, president of Balfour Beatty Campus Solutions.
Construction is scheduled to begin this spring with a targeted opening of August 2023. The project’s development team includes contractor JE Dunn Construction and lead architect Valerio Dewalt Train. Balfour Beatty Communities will manage and operate the property upon completion.
— Taylor Williams