Here’s what’s happening in student housing…
Tempe, Ariz.—ACC Breaks Ground on Engineering Live-Learn Facility at ASU
American Campus Communities broke ground on Tuesday on the sixth of its student housing facilities at Arizona State University in Tempe. The $120 million project will function as a live-learn facility for students of the Ira A. Fulton Schools of Engineering. Housing 1,594 students, the property will boast an E-Space resource center that allows students to work collaboratively and showcase their work.
Milwaukee—Ogden & Co. Arranges Sale of Four Student Complexes
Ogden & Co. Inc. has negotiated the sale of a parking lot and four student occupied apartment buildings adjacent to Marquette University for a sales price of $6.85 million. The properties were formerly under the ownership of Wiegand Investments, and now belong to MLG Commercial, to be managed by Ogden & Co. Inc. henceforth.
Tampa, Fla.—Florida Board Approves $133 million USF Development
A mixed-use student housing facility won approval by the Florida Board of Regents this week. The 2,150 bed development is being undertaken by a public-private partnership including Capstone Development Partners LLC and Harrison Street Real Estate Capital. The project will begin with the demolition of four existent residential buildings, with the two construction phases slated for completion by June 2018.
Columbus, Ohio—10 Student Apartments Ruined in Columbus Fire
A fire started around 5:20 pm on Sunday in the Courtyard II Apartments near Columbus State University. Ten student apartments were destroyed and 25 students displaced. No students or firefighters were injured in the flames, which were put out in about 45 minutes. The cause of the fire is believed to be stovetop cooking.
Evanston, Illinois—Northwestern Breaks Ground on 422-Bed Facility
Northwestern broke ground on Friday on a new student housing development to be called 560 Lincoln. The seven- and four-story building is replacing a row of fraternity houses that were taken down in 2013. The new facility will feature suite-style accommodations. This development is one of five new dorms in the works under Northwestern’s Housing Master Plan, initiated by the Division of Student Affairs.
Tallahassee, Fla.—Campus Block Sells Student Housing Community for $2.78 million
Campus Block FSU LLC sold Campus Block, a 10-unit facility serving students of Florida State University in Tallahassee, for $2.78 million this week. The 100 percent occupied building was constructed in 2013 and sits less than half a mile from campus. Colliers International Student Housing Group arranged the sale.
Birmingham, Ala.—Capstone On-Campus to Manage Cal State San Marcos Communities
Capstone On-Campus Management announced that it has been awarded with third party management over University Village Apartments and The QUAD, two developments serving students of California State University San Marcos. The two communities combined offer a total of 1,527 beds.
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