Tampa, Fla. — Commercial Street Partners has received approval for a 576-bed student housing development near the University of Tampa. The 1.8-acre development site was acquired for $11.5 million and is located at 311 N. Newport Ave. The eight-story development is set to offer 150 units in two-, three-, four- and six-bedroom configurations alongside a 303-stall parking structure. Units will offer bed-to-bath parity. Shared amenities are set to include a state-of-the-art fitness center, third-floor swimming pool facing the university, volleyball court, outdoor lounge space and a rooftop lounge. Sean Baird and Jonathan Holt of Colliers facilitated the acquisition of the site from 33 N. Newport LLC for an undisclosed price. Plans for groundbreaking and a construction timeline have not been announced.