Lakeland, Fla. — A public-private partnership between Capstone Development Partners and Florida Polytechnic University is set to break ground on a 430-bed residence hall on the university’s campus in Lakeland.
The 137,000-square-foot development will offer one-, two- and four-bedroom units, alongside shared amenities including lounge and study space, a large multi-purpose room, offices and an interior courtyard. The five-story project is expected for delivery in fall 2024. The $42 million development is being financed through tax-exempt public bonds issued by the state of Florida on behalf of the State University System.
“This much-needed residence hall represents such an important milestone for our university and is the result of substantial effort by so many,” says Dr. Randy Avent, the university’s president. “This new facility will have a big impact on our students and their success on campus while supporting the growth we’re experiencing and anticipating over the next several years.”
Capstone Management Partners will provide operations and maintenance services for the residence hall. The project’s design-build team includes Design Collective and Clancy & Theys.