Student Housing Business

SEP-OCT 2018

Student Housing Business is the voice of the student housing industry.

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Page 24 of 88

CAMPUS UPDATE September/October 2018 24 CAMPUS APARTMENTS OPENS FOUR NEW DEVELOPMENTS Philadelphia — Philadelphia-based Campus Apartments has opened four student housing devel- opments totaling 1,643 beds in Tennessee, Michigan and Pennsylvania. Development costs for the projects totaled over $220 million. Properties include TENN, a 603-bed, mixed-use community located near the University of Tennessee in Knoxville; The Yard, a 590-bed, mixed-use community located near the University of Michigan in Ann Arbor; Six11, a 350-bed student housing com- munity also located in Ann Arbor; and The Simon at Founders Row located near the University of Pennsylvania in Philadelphia. TENN in Knoxville offers a mix of three-, four- and five-bed- room, fully furnished units. Shared amenities include a two-story clubhouse, fitness center, study lounge, putting green, resort-style swimming pool, fire pits and grill stations. The Yard in Ann Arbor offers studio, one-, two-, three-, four- and five-bedroom, fully furnished units. Community amenities include a gaming lounge, ground-floor retail, a heated swimming pool, clubhouse, fit- ness center and group study rooms with video monitors. Six11, also in Ann Arbor, offers fully fur- nished units with bed-to-bath parity alongside ground-floor retail and penthouse-level amenities. The Simon at Founders Row in Philadelphia offers 23 fully furnished units with keyless entry, and shared amenities including a state-of-the-art fitness center. The University of Chicago CAPSTONE, HARRISON STREET TO DEVELOP ON-CAMPUS, MIXED-USE COMMUNITY AT THE UNIVERSITY OF CHICAGO Chicago — A joint venture between Capstone Development Partners and Harrison Street Real Estate Capital has closed on equity fi- nancing for an on-campus, mixed-use stu- dent housing and dining community on the University of Chicago campus. The project — named The Woodlawn Residential Commons — will offer approximately 1,200 beds for un- dergraduate students and resident staff in a variety of configurations. Units will be con- figured into 11 residential communities that foster close academic and social networks. The development will also include a dining commons that will be operated by the uni- versity and its dining services provider. Cap- stone On-Campus Management will manage the property in shared governance with the University of Chicago. The development is being designed by Elkus Manfredi Architects, and constructed by Turner Construction Co. The property is scheduled to open in fall 2020. LANDMARK PROPERTIES BREAKS GROUND ON 11 DEVELOPMENTS TOTALING 7,700 BEDS Athens, Ga. — Athens-based Landmark Properties has recently broken ground on 11 new student housing developments totaling 7,700 beds. The 11 new communities include The Standard at Ra- leigh and The Station at Raleigh, both near North Carolina State University; The Standard at New Brunswick near Rutgers University; The Standard at Fort Collins near Colorado State University; The Mark at Atlanta near Georgia Tech; The Standard at Austin near the University of Texas; The Retreat at Urbana near the University of Illinois; The Retreat at Denton near the University of North Texas; The Standard at State College near Penn State University; The Standard at Berkeley near the University of California; and The Mark at Gainesville near the University of Florida.

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