Student Housing Business

MAY-JUN 2018

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

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CAMPUS UPDATE May/June 2018 StudentHousingBusiness.com 26 North Dakota State University LEASING CENTER OPEN FOR 364-BED DEVELOPMENT NEAR NORTH DAKOTA STATE UNIVERSITY Fargo, N.D. — The leasing center is now open for The Bridges, a 364- bed student housing development located near North Dakota State University in Fargo. The property is being developed by PROffutt Limited Partnership (PLP) and will be managed by Greystar Student Living. The community will offer one-, two-, three- and four-bedroom units. Shared amenities will include a clubhouse with multiple lounge areas, a busi- ness center, private study rooms, a computer lab with wireless printing capabilities, a state-of-the-art fitness center, on-demand fitness classes, a cyber café, activity room, an outdoor kitchen with grilling stations and an outdoor fireplace. The community is scheduled to open in August. Howard University HOWARD UNIVERSITY, CORVIAS RENOVATE AND OPEN 1,163-BED RESIDENCE HALL Washington, D.C. — Howard University and Corvias have announced the completion of renovations at Howard Plaza Towers East, a 1,163-bed residence hall located on the university's campus in Washington, D.C. The completion of the East tower was the second phase of a two-part, comprehensive renovation of two on-campus residence halls — the Howard Plaza Towers East and West. The total renovation costs for both towers were roughly $71 million, which was funded from the $144 mil- lion raised by Corvias from institutional investors for the project. Corvias will continue to maintain and manage the operations of these properties on a day-to-day basis through the life of the 40-year partnership. Dubai International Academic City ASSET CAMPUS HOUSING TO BE STRATEGIC PARTNER FOR STUDENT HOUSING PROPERTY IN DUBAI Dubai, United Arab Emirates — Asset Campus Housing has been tapped to act as a strategic partner for The Myriad Dubai, a student housing com- munity located in Dubai. The development will offer 1,820 fully furnished student beds within walking distance of several universities in the heart of Dubai International Academic City. Shared amenities will include a study lounge and sports facilities including a gym, swimming pool, squash court, basketball court and an outdoor jogging track. The project is being sponsored by FIM Partners, a Dubai-based investment manage- ment firm. The Strategic Housing Group (SHG) will manage the project's development, and its wholly owned subsidiary, The Myriad, will operate the property once it opens to residents. SHG is the Middle East, Asia and Africa Partner of Asset Campus International. Lehigh University LEHIGH UNIVERSITY, EDR BREAK GROUND ON 428-BED ON-CAMPUS COMMUNITY Bethlehem, Pa. — Lehigh University and EdR have broken ground on SouthSide Commons, a 428-bed student housing community located on the university's campus in Bethlehem. The community will offer studio, two-, three- and four-bedroom, traditional apartments targeting upper level undergraduates and transfer, international and graduate students. Shared amenities will include a fitness center, study rooms, interior bike storage, outdoor recreational spaces, pet friendly living, in-unit laundry and high speed wi-fi. Construction on the site began earlier this spring, and SouthSide Commons is on schedule to open in summer 2019.

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