Student Housing Business is the voice of the student housing industry.
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CAMPUS UPDATE NOVEMBER/DECEMBER 2015 STUDENT HOUSING BUSINESS .COM 22 SAN JOSE STATE UNIVERSITY SUNDT TOPS OUT CAMPUS VILLAGE PHASE II San Jose, Calif. — Sundt Construction Inc. recently celebrated a topping out ceremony at San Jose State University for the construction of Campus Village Phase II, a 10-story student housing building featuring 850 beds, common study rooms, a lounge, multi-purpose room, recreation room and more. Sundt is working with architects Solomon Cordwell Buenz on the $102 million project, which is expected to be completed in mid-2016. BOISE STATE UNIVERSITY EDR AND BSU COMPLETE AGREEMENTS FOR $39.7 MILLION ON-CAMPUS HOUSING DEVELOPMENT Boise, Idaho — EdR has completed agreements with Boise State University for the $39.7 million development, construction and management of an honors college and freshman housing on the Boise State campus. Construction will begin this year, aiming for a July 2017 completion date. The on-campus development will include a four-story building with a 305-bed honors college and 351 additional beds devoted to a freshman live-learn community. Situated on campus adjacent to the student union building and the recreation center, it will also include a dining compo- nent. Upon completion, EdR will own the residence hall under a 50-year ground lease with Boise State and will manage the facility, while Boise State will provide residence life services. EdR will complete the develop- ment through its On-Campus Equity Plan — The ONE Plan — that uses the company's equity and fnancial stability to fund projects on university land. Boise State chose EdR in November 2014 through a competitive pro- cess to execute all the aspects of this development — design, construction, fnance and management. The project's design team will be led by LCA Architects of Boise and includes Ayers Saint Gross of Phoenix. Rimrock Construction of Draper, Utah, was selected as general contractor. UNIVERSITY OF SOUTH FLORIDA CAPSTONE, HARRISON STREET TO BUILD $133 MILLION ON-CAMPUS MIXED-USE DEVELOPMENT Tampa, Fla. — The Florida Board of Regents has approved the $133 million development of a mixed-use student housing project at the University of South Florida, in a partnership between the university and Capstone-Harrison Street LLC. The public-private partnership, which includes Capstone Development Partners LLC and Harrison Street Real Estate Capital, will demolish four of the existing residential buildings in the Andros community, adjacent support buildings and a pool, begin- ning May 2016. The partnership will then build a residential village with 1,250 beds. A second phase, expected to begin construction in May 2017, will add another 900 beds. Construction is expected to be completed in total in June 2018. OHIO UNIVERSITY COLUMBUS PACIFIC BUILDING STUDENT HOUSING COMMUNITY OFF-CAMPUS Athens, Ohio — Columbus Pacifc Properties, in conjunction with Homestead U Management, is currently building River Gate, a stu- dent housing community near Ohio University (OU) in Athens. The 232-bed property will feature fully furnished two-, three- and four- bedroom apartments, and is now pre-leasing for August 2016 move-ins. Amenities at River Gate will include the Resident Life Center, which features a bistro with gourmet coffee, a cyber lounge with views of the resort-style pool, private study rooms, 24-hour ftness center, gaming room and an underground parking garage. River Gate will join three other Homestead U properties that are located on OU's South Green. Looking for development sites? GG Land Group can help. At GGLG, we are committed to increasing value for our partners. Whether that means identifying prime universities in need of housing; acquiring suitable land adjacent to said universities; managing the entitlement process; or joint venturing with a suitable business partner. Projects in pipeline: Virginia Tech • Southern Utah • New Mexico State Iowa • Mississippi State • Temple • Florida International Indianapolis • Nebraska Omaha • UW-Milwaukee NC State • UC-Colorado Springs Thomas Galuski President & CEO GG Land Group, LLC tgaluski@gglandgroup.com 312.451.1204 The Annex on Tenth in downtown Indianapolis will offer a mix of studio apartments, as well as two- and four-bedroom units and townhomes, priced from $500 to $950 per bed, per month. INDIANA UNIVERSITY – PURDUE UNIVERSITY INDIANAPOLIS ANNEX BEGINS CONSTRUCTION ON $32 MILLION STUDENT HOUSING PROJECT Indianapolis — Annex Student Living will soon break ground on a six- story, 558-bed apartment development in downtown Indianapolis close to the campus of Indiana University Purdue University at Indianapolis (IUPUI). The $32 million project, called The Annex on Tenth, recently received fnal approval from the Indianapolis Metropolitan Development Commission. Indianapolis-based Annex will begin readying the land for development this year and construction will start next spring. Phase I of the project will include 116 units (258 beds) with completion slated for early summer 2017. Phase II will add 110 units (300 beds) and is set to be completed by summer of 2018. The Annex on Tenth will offer a mix of stu- dio apartments, as well as two- and four-bedroom units and townhomes, priced from $500 to $950 per bed, per month. Students will have indi- vidual leases, so each resident will be responsible for only their portion of the rent. Annex has selected CSO Architects, American Structurepoint, Rowland Design, CONTEXT Landscape Architecture and Horizon Bank as partners on the project.