Gilbane Development to Begin $400M in New Student Housing Projects
All of the student housing buildings are expected to begin operations by the fall of 2020, with the exception of the Octave at the University of Illinois Urbana-Champaign project, which is scheduled for a fall 2019 occupancy.
PROVIDENCE, RI—Locally-based Gilbane Development Co. reports it will begin development of five student housing projects adjacent to major universities in Illinois, Arizona, Oregon, Maryland and Georgia totaling more than 3,500 beds.
The company states the total development cost for the projects will exceed $400 million. All of the student housing buildings are expected to begin operations by the fall of 2020, with the exception of the Octave at the University of Illinois Urbana-Champaign project, which is scheduled for an earlier fall 2019 occupancy.
“We are excited to further expand our student housing portfolio and to provide our trademarked Next Level of Student Housing experience to students, parents and campuses around the country,” says Russell Broderick, SVP of Gilbane Development Co.
The planned new properties include Octave, located at 210 South Fourth St. in Champaign, IL two blocks from The University of Illinois Urbana-Champaign. The two-building property will feature 538-beds.
Alor, a three-building complex will feature 946 beds and 64 units of market rate/workforce housing located approximately 1,000 feet from Arizona State University’s Tempe, AZ campus. Alor will also include 12,000 square feet of retail and a structured parking garage along with two unique pool areas. Additional amenities include a 25,000-square-foot rooftop deck and sky lounge, a 6,000-square-foot open-air fitness center with cardio, fitness/yoga center, outdoor courtyards with fire pits, cabanas, spa, central clubhouse, 24-hour study lounges, game rooms, and computer lab.
Sierra will be a 228-unit building abutting the southeast corner of Oregon State University’s campus in Corvallis, OR. Amenities include a heated pool, clubhouse, fitness center, game room, group study rooms, structured parking, a garage and three courtyards.
Towson Row is a 720-bed complex located three miles from the Towson University campus in Towson, MD, and part of Towson Row, a $350-million mixed-use development with more than 1 million square feet of retail, hotel, residential, and office space. Amenities will include a clubroom, fitness center, computer lounge, study rooms, game room, and two elevated courtyards, which collectively includes a swimming pool, grilling area and other outdoor amenities such as fire pits and hammock pergolas.
Bixby at Kennesaw State University in Kennesaw, GA, is located 30 minutes north of Atlanta and will consist of 656 beds, a structured parking garage and approximately 3,000 square feet of retail. Amenities will include a heated saltwater swimming pool and rooftop skydeck overlooking the KSU football stadium.