Development

Wolf-Creek

Jonesboro, Ark. — Hillcrest Acquisitions has acquired Wolf Creek, a 192-unit student housing community located at 500 North Caraway Road near the Arkansas State University campus in Jonesboro. The community is set to undergo $4.4 million in renovations and will be converted into conventional multifamily. Marc Tropp of Eastern Union secured $12.05 million in financing through Bay Vanguard on behalf of Hillcrest for the acquisition of the property from an undisclosed seller. The five-year mortgage loan features interest-only payments for 24 months during renovations and lease-up. Once the property is …

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Villas Knoxville

Knoxville, Tenn. — A partnership between Villas Student Housing and Student Quarters has broken ground on a 605-bed student housing development across from the University of Tennessee campus in Knoxville. The 235,000-square-foot community will be located at the intersection of 1425 Rocky Shore Lane and 1440 Cityview Lane. The property will offer units in studio through five-bedroom configurations across two six-story buildings. Shared amenities will include a resort-style swimming pool, basketball court, state-of-the-art fitness center and study spaces. The design-build team for the project includes Rhode Partners, Southern Building Group, …

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99-Claremont

New York City — A joint venture between Charney Cos. and Criterion Real Estate Capital has acquired 99 Claremont Avenue, a seven-story student housing community located in the Morningside Heights neighborhood of Manhattan. The new ownership plans to renovate the 92-year-old building, which rises seven stories. Madison Realty Capital provided a $55 million bridge loan for the acquisition and renovation of the community. 

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Hub-Tallahassee

Tallahassee, Fla. — A joint venture between Core Spaces, Peerless Development and an affiliate of Inland Acquisitions has announced plans for Hub Tallahassee, a student housing development located near Florida State University. The development site for the project is located within a qualified opportunity zone near the northeast corner of the university’s campus. The seven-story community will offer 1,316 beds across 367 units in studio through six-bedroom configurations upon completion, which is expected for fall 2026. Shared amenities will include a resort-style rooftop swimming pool, fitness center, spa, private study …

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Auburn-University

Auburn, Ala. — Auburn University has broken ground on a $63 million residence hall project along Haley Concourse on the university’s campus in Alabama. The 371-bed community will house first-year students upon completion, which is scheduled for summer 2026. The 125,651-square-foot development will feature amenities including multipurpose communal spaces and kitchens, group study rooms, laundry facilities on every floor and bike storage. The community will also be home to housing department offices and a storm shelter. The development team for the project, which is targeting LEED certification, includes Niles Bolton …

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UT-RISE

Knoxville, Tenn. — A public-private partnership between the University of Tennessee and RISE: A Real Estate Co. has broken ground on two residence halls expected to open on the university’s Knoxville campus in fall 2025. The two communities will add approximately 1,950 beds to the university’s housing inventory, which currently totals 8,500 beds. The first development will be located at the intersection of Andy Holt Avenue and 20th Street and will offer 788 beds throughout a seven-story building. The second, two-building residence hall will offer 1,166 beds between Caledonia and …

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Theory-Gainesville

Gainesville, Fla. — A joint venture between PeakMade Real Estate and Blue Vista Capital Management has opened the second phase of Theory Gainesville, a student housing development near the University of Florida campus in Gainesville. The 532-bed first phase of the project opened in August 2023. Phase II adds 329 beds to the property, bringing the development to a total of 298 units and 861 beds. The community offers studio through five-bedroom fully furnished apartments and townhomes. Shared amenities a rooftop state-of-the-art fitness center, swimming pool and outdoor jumbotron theater; …

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Syracuse

Syracuse, N.Y. — Syracuse University has announced plans to develop two new residence halls after a comprehensive three-year housing review. The first community will be developed at 700 Ostrom Ave. and will offer 450 beds upon completion. An undisclosed architect has been selected for the project with construction expected to begin this year. Further details on the development were not disclosed. The university congruently announced plans to demolish Marion Hall, Kimmel Hall and an existing dining enter on the corner of Comstock and Waverly avenues to make way for a …

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UCSB-San-Benito

Santa Barbara, Calif. — The University of California (UC) Santa Barbara has announced plans to develop new residence halls offering a total of 3,500 beds through 2029. The first phase of the two-part project will include a 2,250-bed development dubbed San Benito. The project will be developed on a five-acre site between Mesa Road and Stadium Road, which formerly housed offices for the university’s facilities management, transportation and parking services. The community will include a number of multi-story buildings offering mostly four-bedroom apartments with a mix of some single- and …

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Lapis

Miami — A joint venture between Toll Brothers Campus Living and CanAm Capital Partners has completed Lapis, a 1,086-bed student housing development located adjacent to the Florida International University campus in Miami. The 20-story community spans more than 763,500 square feet and offers units in one-, two-, three-, four- and five-bedroom configurations. Shared amenities include a club room, indoor-outdoor fitness center, saltwater swimming pool, coffee bar, private study and group meeting rooms and a rooftop amenity deck with a Jumbotron and grilling stations. The design team for the development included …

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