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AMES, IA—From 2004 to 2014, developers constructed no new student housing in this major university town. But ever since, Ames has seen a host of new communities geared toward Iowa State University's rapidly expanding student population.

EdR, one of the nation's largest developers, owners and managers of collegiate housing, recently started construction on a new community within walking distance of the campus in a joint venture with developer River Caddis Development. Opus Design Build, LLC is the design-builder and Opus AE Group, LLC is the architect and structural engineer of record for the 320,000-square-foot mixed-use development.

Opus has taken on similar projects in Ames. It recently built The Foundry, for example, a six-story building with 53 units and 144 bedrooms.

“Leasing on The Foundry was strong and we were 100% occupied upon opening that project,” Jeff Smith, vice president, Opus Design Build, LLC, tells GlobeSt.com. “Demand for high quality student housing close to campus was very high.”

By summer 2018 the EdR team will have finished 157 new apartment units and 7,500 square feet of ground level retail space. EdR will own 70% of the $51.9 million development and also manage it.

Other developers have flocked to Ames. In 2015, Gilbane Development Co. launched a six-story project called The Edge, which added about 290 brand new beds in two, three and four-bedroom fully furnished apartment units.

“While we can't comment on specifics from other companies, our own extensive market research indicates a strong demand for high-quality student housing in the Ames market, especially for the combination of pedestrian location to campus location and amenity package our community will offer,” Rodney J. King, vice president of real estate development and EdR's developer on the project, tells GlobeSt.com.

Total enrollment in the Fall of 2016 was 36,660 and that has grown by more than 11,000 students since the start of the 2006 academic year. That growth has been mirrored at many other top institutions, and combined with the desire among many students for truly class A apartments, it has transformed student housing from a niche market to a mainstream one.

Located on the corner of 2700 Lincoln Way, the 6-story project will help the city fulfill its Campustown Revitalization plan by enriching the Lincoln Way, Sheldon Ave. and Hyland Ave. pedestrian experience and providing a gateway into Campustown.

“This location is directly across the street from Iowa State University in the heart of downtown Ames,” says River Caddis president Kevin McGraw. “We have gone to great lengths to collaborate with the City of Ames to design an aesthetically pleasing, long-term sustainable development, and believe we have accomplished that goal. Teaming up with an industry leader, such as EdR, makes this project that much better and partnering with Opus has proven to be an excellent choice for us as they are very good at working together in a team effort.”

The development will have 537 beds in a mix of studio, one-, two-, three- and four-bedroom floor plans. The apartments will also feature luxury amenities including two outdoor resident amenity decks, an outdoor hot tub, club room, fitness center, study rooms, leasing lounge and residential parking. Additionally, residents will enjoy in-unit washers and dryers and WiFi throughout the community.

Opus has taken on similar projects in Ames. It recently built The Foundry, for example, a six-story building with 53 units and 144 bedrooms.

By summer 2018 the EdR team will have finished 157 new apartment units and 7,500 square feet of ground level retail space. EdR will own 70% of the $51.9 million development and also manage it.

Instant Insights /

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