RALEIGH, NC—Can a student housing project helpdrive revitalization forward in a southern city? KaneRealty is out to prove it can with a new upscale,off-campus student housing community that willbegin serving North Carolina State University (NCSU) students inSummer 2015.

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Kane launched construction on the $78 million project dubbedStanhope earlier this year and believes the studenthousing community will continue the revitalization ofHillsborough Street. The project offers 822 beds and 25,000 squarefeet of retail space.

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“We identified an opportunity to create a truly unmatched typeof student living that focused on not only amazing amenities andconvenience, but also the importance of beingenvironmentally-friendly,” says John Kane, CEO ofKane. “We are confident that Stanhope will be a one-of-a-kindliving destination for University students.”

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The Raleigh student housing community is stepsaway from NCSU and less than a mile from Meredith College at 3001Hillsborough Street. Kane named it to honor the historic Stanhopeneighborhood.

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Student housing amenities will include an oasissaltwater pool with splash deck, outdoor courtyards withtelevisions, fire pits, grills and open green space, integralparking deck, hi-tech cyber lounge, study lounges on each floor,art studio, two-story game room, fitness center with cardiomezzanine, and two tanning rooms, ground level retail, restaurants,and green living perks like electronic car charging stations,recycling rooms on every floor, and bicycle storage room.

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Kane hired Asset Campus Housing (ACH) to managethe student housing community. Kane will lease and manage theretail space. The project team also includesLittle Diversified Architectural Consulting and Clancy & TheysGeneral Contractors. Financing is provided by Wells FargoBank and Federal Capital Partners.

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