Birmingham, Ala. — Capstone Development Partners has launched a new corporate program named Stepstone in support of improving access to higher education. An initial investment of $100,000 was seed-funded by principals of Capstone in December 2019 and has been annually augmented through the contribution of a percentage of the Birmingham-based company’s profits. This money will be used to fund scholarships placed with institutions and managed by foundations or college and university administrators to provide housing or tuition assistance to students who have a compelling financial need. The first Stepstone scholarship …
Auburn, Ala. — A joint venture between The Preiss Co. and a private equity real estate fund advised by Crow Holdings Capital has acquired a 600-bed, cottage-style student housing community from Aspen Heights. The community — rebranded The Collective at Auburn — serves students attending Auburn University in Alabama. Capital improvements are planned for the property, including a complete redesign of its clubhouse and amenity areas, new exterior paint, the addition of more in-unit furniture and the installation of LED lighting and water-saving devices. “Upgrades will be handled in phases …
Birmingham, Ala. and Lawrence, Kan. — A joint venture between The Opus Group and The McKinney Fund has finished the development of two student housing communities located in Alabama and Kansas. Completed projects include Ascend Five Points South, a 520-bed mixed-use development located near the University of Alabama at Birmingham; and Proxi Lawrence, a 330-bed mixed-use development located near the University of Kansas in Lawrence. Both properties offer retail space alongside shared amenities including swimming pools, study rooms, fitness centers and spas. The design team for Ascend Five Points South …
Birmingham, Ala. — Peak Campus has been awarded management of Lumen Above Railroad Park, a 474-bed development currently underway near the University of Alabama at Birmingham (UAB). The project is being developed by a partnership between Corporate Realty Development and Parallel Co. and is set to offer one-, two-, three-, four- and five-bedroom units. Shared amenities will include a fitness center, terrace pool with a tanning ledge, grilling stations, a top floor sky lounge and package management system. The development is scheduled for completion in fall 2021. “We are thrilled …
Aptitude Development Breaks Ground on 409-Bed Community Near the University of Alabama at Birmingham
Birmingham, Ala. — Aptitude Development has broken ground on The Marshall Birmingham, a 409-bed student housing community located near the University of Alabama at Birmingham (UAB). The 200,000-square-foot, seven-story building will feature shared amenities including a state-of-the-art fitness center, resident lounges, breakout areas, an open-air social space, courtyards and a swimming pool. The development team for the community — slated for completion in summer 2022 — includes Stone Construction, BSB Design and CHA Engineering. “Despite a time of uncertainty, Aptitude is happy to find a University that has enrollment continuing …
Tuscaloosa, Ala. — Greystar has acquired 17 acres in Tuscaloosa to develop Union on Frank, a $70 million student housing community serving students at the University of Alabama. The 200-unit property will comprise 396 beds and will be situated at 512 Frank Thomas Ave., two blocks from Bryant-Denny Stadium. The site currently has existing student and multifamily communities that will be demolished. A timeline for completion was not disclosed. Sean Baird, Jonathan Holt, Carter Brehm, Austin Weathington and Will Mathews of Colliers International represented both the buyer and undisclosed seller …
Tuscaloosa, Ala. — Spaces Management has opened The Walk Tuscaloosa, a 251-bed student housing community serving the students at the University of Alabama. The four-story building is located one block from Bryant-Denny Stadium and Tutwiler Hall. Unit interiors are fully furnished and feature quartz countertops, tile bathroom flooring, walk-in showers, vinyl plank wood-grain flooring and stainless steel appliances. Communal amenities include three fitness centers, private and group study spaces, a tanning bed, lounge area, pool, pool deck, fire pit and below-grade parking. Elite Building was the general contractor, and Poole & …
Tuscaloosa, Ala. — Greystar has acquired at 1.71-acre development site located two blocks from the University of Alabama campus in Tuscaloosa. The property was sold by a partnership between Capstone Properties and Wright/Hurd Properties for an undisclosed price. Sean Baird, Jonathan Holt, Carter Brehm, Austin Weathington and Will Mathews of Colliers International brokered the transaction. Details on the planned student housing development were not disclosed.
Huntsville, Ala. — Alabama A&M University is set to offer Comcast’s Xfinity On Campus service. Students on the Huntsville campus will be able to watch live television, on-demand and recorded content on any of their IP-enabled devices, including laptops, tablets and smartphones. Xfinity On Campus offers more than 100 live channels including every major broadcast network, as well as channels like AMC, Bravo, ESPN, FX and MTV. Students are also able to use their subscription while off-campus through the Xfinity Stream app’s TV Everywhere function.
Auburn, Ala. — The Union at Auburn recently launched a ‘Worry-Free Renting’ program for students looking to lease an apartment for the upcoming academic year. In this program, students who sign a lease for fall 2020 will not have to pay rent until in-person classes begin or they decide to move into the community. The property is also promising that students will be allowed to cancel their lease if they are accepted into on-campus housing for the upcoming year before April 30, 2020. The Union at Auburn offers 505 beds …