Lubbock, Texas — Plans have been announced for the development of two new student housing communities in Lubbock that will serve Texas Tech University. Asset Plus Cos. has already broken ground on the 562-bed 25Twenty student housing complex on a 3.6-acre, off-campus site. The four-story property will sit adjacent to Jones AT&T Stadium. The property includes two courtyards that will feature a pool, an outdoor barbecue kitchen, a hammock area and a competition horseshoe pit. Additional amenities will include an Internet café, a business center, a theater with stadium seating, an exercise facility and tanning room, and a 9,600-square-foot clubhouse. Units will range from 571 square feet to 1,704 square feet.
In addition, Collegiate Construction will soon break ground on the 218-unit Retreat Lubbock at a site minutes away from the university. The property is comprised of two- to five-bedroom cottages that contain a private bathroom for each bedroom. Wells Fargo Bank is providing construction debt for the $42 million project. A joint venture between Landmark Properties and Harrison Street Real Estate Capital is developing The Retreat. A fall 2011 delivery is expected.
— J.R. Ross
***5/26-Story has been corrected to state that 25Twenty is located off-campus.