Boca Raton, Fla. — A public-private partnership between Lynn University and Capstone Development Partners has broken ground on a $40.5 million residence hall development on the university’s campus in Boca Raton.
The 342-bed property will offer studio, two- and four-bedroom, affordable units with living areas and kitchens. Shared amenities will include a community kitchen, television lounge, flexible workspace, a multipurpose room and study lounges. The project is scheduled for delivery in fall 2022.
The design-build team for the development includes Design Collective, Donahue Architecture and Design, and Gerrits Construction. Brailsford & Dunlavey is serving as an advisor to the university during the project. Capstone Management Partners will provide asset management, facility maintenance and custodial services in partnership with the university.
The development is being financed through non-recourse, tax-exempt bonds. Capstone worked with Citi to help coordinate the financing, and Provident Resources Group is the nonprofit owner.