EdR to Build and Manage Infill Project in Joint Venture at the University of Minnesota

by Katie Sloan

Minneapolis — GEM Realty Capital and Schenk Realty Group are co-investing.

Minneapolis — EdR has completed agreements with GEM Realty Capital and Schenk Realty Group to jointly develop and own new off-campus collegiate housing at the University of Minnesota in Minneapolis.

EdR will be a 50 percent owner and will manage the community on behalf of the joint venture. Construction has begun on an $88 million collegiate housing development in the Dinkytown neighborhood two blocks from the University of Minnesota’s main — or Twin Cities — campus in Minneapolis.

Scheduled for completion in summer 2014, this community will offer 901 beds in a variety of 308 furnished studios, one-, two-, three- and four-bedroom units each with private bedrooms and baths.

Amenities will include an indoor swimming pool and basketball court, fitness center, bicycle storage, and wash area, outdoor deck and grilling area, Zen gardens and an outdoor plaza. The building will also contain 25,000 square feet of retail space.

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