TYLER, TX—When students at the University of Texas at Tyler come back to school this fall, they will see some major changes at one off-campus student housing community.
Cambridge at Tyler, the 588-bed student housing community located directly across the street from campus at 3088 Old Omen Road, is undergoing major improvements and will be re-branded as Village At The U.
The new property ownership group, led by Emet Capital Management, who purchased the community in December 2012, has spent more than $1 million on improvements to the community and to undertake a complete brand transformation.
Along with amenity upgrades to the clubhouse and living units, major safety improvements will be made at Village At The U, including unit and individual bedroom security alarms as well as enhanced security gates, fencing, and high-resolution cameras. Students will also experience a variety of new resident activities and events starting this fall. Beginning June 1, students who apply to live at Village At The U must have a minimum of a 2.5 GPA.
“We are investing over a million dollars into Village At The U to make these renovations and safety improvements in order to revitalize the project and as a direct response to feedback from students and the University,” said Paul Siegel, managing principal of Emet Capital Management. “We are anxious to fix the existing issues…this community should be the premier off-campus living destination for University of Texas at Tyler students, and we intend to make it their top choice.”
Construction is underway and most improvements should be completed by the end of the summer. A full unveiling of community upgrades will be released in conjunction with the University’s new student orientation on June 13.
Village At The U will be managed by Asset Campus Housing (ACH), the largest privately-owned student housing company in the nation, with a portfolio of more than 100 properties totaling over 55,000 beds. The community is independently owned and is not affiliated or associated with The University of Texas at Tyler.
Emet Capital Management, LLC is a private equity real estate investment management firm that focuses on distressed and special situation multifamily real estate opportunities within the municipal marketplace. Headquartered in Houston, Asset Campus Housing, Inc. is an affiliate of Houston-based Asset Plus Companies, a third party property management firm specializing in real estate services for investors, developers, and owners.