Stillwater, Okla. — Progress Student Living has begun construction on Progress405, a luxury student housing community located near the central campus of Oklahoma State University in Stillwater.
Located on an 11-acre site at the northern edge of the OSU campus, Progress405 will consist of four three-story buildings with 544 bedroom/bathroom suites in 180 apartment units.
When completed, Progress405 will be the nearest Class A, fully amenitized, student housing community to campus, according to Progress Student Living. It will be located less than a quarter-mile from Boone Pickens Stadium and a half-mile from the center of campus.
Among the property’s amenities will be an outdoor, resort-style swimming pool; a 10,000-square-foot clubhouse; outdoor grilling areas with fire pits; a fitness center; a sand volleyball court; a collaborative study center; a cybercafé; on-site bike racks; and community Wi-Fi. Progress405 residents will be able to ride the OSU/Stillwater Community Transit System’s blue-line bus at a stop adjacent to the property to campus.
The apartments at Progress405 will be fully furnished and available in one-, two- and four-bedroom floor plans, with each bedroom having its own bathroom. Unit amenities will include nine-foot ceilings; fully equipped kitchens with kitchen islands; walk-in closets; balconies or patios for ground-level units; high-speed Internet connections; and in-unit washers and dryers.
Progress405 will be completed for August 2016. Greystar Student Living will serve as property manager. Mutual of Omaha Bank is providing construction financing for the project, with equity from Seminole Financial Services. Stillwater National Bank provided acquisition and predevelopment financing.