Roxbury, Maxx. – Parcel 3 Meets Resistance with Roxbury Development
Parcel 3’s plans to build new student housing on a Lower Roxbury site was met with skepticism from neighborhood residents this week at a city council meeting. The project would house students of Northeastern University. Similar attempts have been shot down in recent years due to tension between locals and area universities, despite Mayor Martin Walsh’s call for more student housing to bring down prices.
Tuscaloosa, Ala. – University House Communities Purchases South 10 Apartments
Formerly known as Inland American Communities, University House Communities (UHC) bought out South 10 Apartments, an off-campus college rental community developed by South City Partners, for an undisclosed amount. UHC is making plans to rebrand the five-story, 200-unit community located near the University of Alabama as University House.
Tempe, Ariz. – City Approves Legacy’s Plans for University Village 2.0
The city of Tempe approved Legacy Partners Residential’s new $60 million, 775 bed student living community, branded University Village 2.0. The mixed-use facility will be designed by KTGY and feature 260 units with high-end finishes, multiple outdoor and indoor amenities, a resort-style pool, outdoor jumbo TV, and retail space on the ground level. The new development is set to begin construction by summer 2016, with plans to open for the fall 2018 semester.
Blacksburg, Va. – Berkadia Secures $48 million loan for Campus Management Group
In one of Berkadia’s largest student housing transactions to date, the company secured a $48 million, 20-year loan for a Campus Management Group affiliate for Edge Apartment Homes, a recently-constructed student housing development. The 252-unit property is currently 100 percent occupied.
Austin, Texas – American Campus Communities CEO Inducted Earns Alumni Honor
Co-founder and CEO of American Campus Communities, Bill Bayless, earned induction into the West Virginia University College of Business and Economics Roll of Distinguished Alumni on Friday of last week. Since its beginning in 1992, American Campus Communites has grown into the largest developer owner, and manager of student housing in the country with a portfolio totaling more than 125,000 beds.
Miami – Trinitas Ventures to Move Ahead with Controversial Project
Trinitas Ventures received the OK from the Oxford City Council meeting on Tuesday of this week. The 82-building project will be built upon a storied parcel of land that was rezoned in 2014 with a promise that it would not be converted into student housing. However, despite initial objections, the new plans from Tinitas have been modified to include more green space (13.6 acres worth), fewer structures, and more townhomes. These modifications helped win approval.
Knoxville, Tenn. – Construction begins on $20 million Knox Ridge Complex
A new student housing community has started construction off Cherokee Trail in Knoxville, Tenn. The development comes on the heels of many multimillion-dollar deals in the area involving eight to 15 year-old buildings that buyers have looked to renovate. The new facility is slated for completion in time for fall semester 2016.
San Marcos, Texas — Student Housing Development Near TSU Acquired by Alex. Brown Realty Inc., Asset Campus Housing
University Springs, a 488-bed student housing development near Texas State University in San Marcos, was acquired this week by Alex. Brown Realty Inc., in association with Asset Campus Housing. Financed by a first mortgage loan from Amegy Bank, the new acquisition will be rebranded as The Reserve at West Avenue following significant interior and exterior upgrades to the property.
Equal Housing Opportunity
