Appalachian State, RISE Close Financing for Third Phase of Student Housing Development

by Katie Sloan

Boone, N.C. — A public-private partnership between RISE: A Real Estate Co. and Appalachian State University has closed on financing for the development of a third phase of student housing on the university’s campus in Boone. Phase III of the project will deliver 753 beds in fall 2022. Development for Phase II is currently underway with 638 beds set for delivery in fall 2021. Further details on Phase III were not announced. The project team includes Choate Construction, Niles Bolton Associates, Stanley D. Lindsey & Associates, Jenkins-Peer Architects, RBC Capital Markets, First Tryon Advisors, Beyond Owners Group and the Appalachian Student Housing Corporation.

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