Development

Hub-Knoxville

Knoxville, Tenn. — Juneau Construction has topped out Hub Knoxville, a student housing development near the University of Tennessee that will comprise two 10-story towers and a seven-story building. The co-developers, Core Spaces and Schenk Realty Group, broke ground on the project in February 2023 and secured $233 million in construction financing last summer. Upon completion, the 1,600-bed community will feature 30,000 square feet of retail space, 23,000 square feet of indoor amenities and a 19,000-square-foot rooftop terrace that features a pool, basketball court and hot tub. The design-build team …

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Gilbane-Purdue

Fort Wayne, Ind. — A public-private partnership between Gilbane and Purdue University Fort Wayne is set to break ground on a 600-bed residence hall. The 213,000-square-foot project will be located near Ginsberg Hall on the university’s North Campus in Fort Wayne.  The community will rise four stories and offer units in studio through four-bedroom configurations. Shared amenities will include a convenience store, fitness center, gaming room, study spaces, lounges, a reception area, leasing office and multi-purpose space. The community will also offer outdoor amenities including a hammock farm, green spaces, a …

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2587-Telegraph-Ave-Berkeley-CA

Berkeley, Calif. — CBRE has arranged the sale of a 0.43-acre development site at 2587 Telegraph Ave. in Berkeley, approximately five blocks south of the University of California, Berkeley campus. 2565-2589 Telegraph Black LLC, a local private investor and related party of Anchor Valley Partners, sold the asset for an undisclosed price. An undisclosed buyer plans to build a 232-bed student housing development on the site. The project is approved and entitled for an eight-story, 112,562-square-foot mixed-use building. Upon completion, the community will offer studio, four-, five- and six-bedroom units, …

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TSU-P3

Nashville, Tenn. — Cobblestone Development & Consulting has announced plans for a 719-bed student housing community located across from the Tennessee State University campus in Nashville. The Industrial Development Board has approved the issuance of $180 million in bond financing for construction of the community, dubbed Cobblestone Village Residence, which will feature two buildings offering 155 units. The 280,000-square-foot development will offer units in three-, four- and five-bedroom configurations. Construction is expected to begin in June with completion planned for fall 2026. The development team for the project includes Lamar Johnson …

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UC-Santa-Cruz

Santa Cruz, Calif. — A public-private partnership between The University of California (UC) Santa Cruz and Redtree Partners is set to break ground on a residence hall development. The community will be located on Delaware Avenue and will offer 400 beds for upper-division undergraduate students and units for 60 university employees. The student housing portion of the project will offer rents priced at 20 percent below market rate and the employee housing will be priced at approximately 5 percent below market rate. Seven employee units will meet the city’s affordable housing …

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Chris Epp of Walker & Dunlop, Student Housing Fundamentals quote from article

Student housing is capturing the attention of developers, investors and institutional lenders as university enrollment and record rent gains position the sector to outperform other property types. That’s one of the dominant themes evident in Walker & Dunlop’s recently released 2024 Student Housing Outlook. Although transaction volume declined to $5.7 billion in 2023 from the previous year’s all-time high of $24 billion, strong operating fundamentals are attracting new entrants to the sector, including institutional investors and lenders. “Student housing is entering a resurgence where we predict continued outperformance relative to …

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711-Church

Ann Arbor, Mich. — LV Collective has received approval to begin construction on a student housing development at 711 Church St. near the University of Michigan campus in Ann Arbor. The 484,587-square-foot community will offer 273 units in a mix of studio, one-, two-, three-, four-, five- and six-bedrooom configurations. Shared amenties will include an on-site coffee shop; study mezzanine with private study rooms and an outdoor terrace; game day lounge; swimming pool and hot tub; fitness center with flex and yoga studios; and a rooftop terrace. A timeline for the …

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Summit on Juniper at Dartmouth College TMO The Michaels Organization. (Photo credit to Robert Smith of The Michaels Organization).

As housing costs rise, colleges, universities and developers are teaming up to address a widening affordability gap at their campuses by making housing available and attainable for the population that needs it. One of the developers leading this charge is The Michaels Organization, which is applying lessons learned in its 50 years of affordable housing development to create student housing dedicated to serving students, faculty and staff who would struggle to pay market rent. Student Housing Business queried Ned Williams, executive vice president of development at The Michaels Organization, about …

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Parallel-Lumen

The push to create affordable housing is creeping into student housing properties, further blurring the line that distinguishes the category from conventional multifamily assets. Municipal policies are largely driving the movement. Although the programs differ from one city to the next, they typically offer private developers density bonuses, fee waivers and other incentives to build the housing and secure long-term commitments to affordability with deed restrictions or other agreements. Some cities allow developers to contribute to a public housing fund to either opt out of providing on-site affordable units or …

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LV-Ariz-State

Tempe, Ariz. — LV Collective, in partnership with Kayne Anderson Real Estate and Pacific Life, is set to break ground on Rambler Tempe, an 829-bed student housing development serving students attending Arizona State University. The community, which is scheduled for completion in fall 2026, will span 552,380 square feet at 1020 East Apache Blvd. in Tempe. Work on the project began in March. Upon completion, the property will offer units in studio, one-, two-, three- and four-bedroom configurations. Shared amenities will include a café, coworking and private study rooms, content creation rooms, two …

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