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DENTON, TX-A Boca Rotan, FL developer broke ground on the Forum at Denton Station, a 348-unit student housing complex that will provide high-end housing for University of North Texas and Texas Woman’s University students. The project should be completed in time for the fall 2009 school year and has an all-in development cost of approximately $50 million.

Forum at Denton Station is Parkland Development Corp.’s first student housing development, and will be a flagship project. The groundbreaking on the 26-acre site at Center Place Drive and Interstate 35 follows just weeks after the developer bought the land from Denton, TX-based Lone Oak Residential Ltd.

Andrew Sanderson, associate with The Weitzman Group of Dallas, TX, says the company already has another 25 acres under contract in Denton for a similar project, which has a projected 2010 opening. “The reason why they decided to start these projects in Denton is because Harold Tomlinson of Parkland Development is an alum at UNT,” says Sanderson, who represented Parkland on the land acquisition side. Tomlinson is the company’s chairman and president.

Sanderson, who also graduated from University of North Texas, tells GlobeSt.com that Parkland is planning similar student housing projects to serve students at Florida State in Tallahasse, FL. He adds that Parkland Development’s typical M.O. is to build the projects, lease them up, then sell. “The hold period will be about two or three years, depending on market conditions,” he says.

Forum at Denton Station will have a unit mix of one, two, three and four-bedroom units. All apartments will be fully furnished and rented by the bedroom. Greystar will manage the property.

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