Subtext, Kayne Anderson Break Ground on 1,332-Bed Development Near University of Virginia

Charlottesville, Va. — A joint venture between Subtext and Kayne Anderson Real Estate has broken ground on VERVE Charlottesville, a 1,332-bed student housing project located adjacent to the University of Virginia campus in Charlottesville. The 12-story community, which is expected for completion in summer 2027, will span 729,262 square feet at 100 Stadium Road. The development will offer 463 units in studio, one-, two-, three- and four-bedroom configurations. Shared amenities will include a fireside lobby lounge, coffee café, two-story fitness and wellness center, multi-sport gaming lounge, F1 driving simulator, pool terrace, dog spa and pet park, makerspace, an outdoor fitness lawn and dedicated library and study spaces. The joint venture will also contribute $6.8 million to the Charlottesville Affordable Housing Fund as part of its development agreement with the City of Charlottesville. The development team for the project includes John Moriarty & Associates, Sumitomo Mitsui Banking Corp., ESG Architecture & Design, WOLF ACKERMAN DESIGN, AJC Design Group, SK&A and Timmons Group.