The $50-million project features a terrace level with an entertainment pavilion as well as access to the community's fitness center, entertainment rooms, computer lab and leasing offices. The entire community sits on a 2.64-acre site at the intersection of Huron Boulevard and Delaware Street SE.
In an effort to eliminate long hallways and increase privacy and security, each of the towers will be accessed by separate elevator banks located on the terrace level. This student housing community, which will feature an amenity and service package second tonone, will contain 278 units and 932 bedrooms, and is situated above a two-story structured parking garage.
The garage has room for 395 cars, 25 motorcycles and over 400 bicycles.
Combined with a 306-unit project in Michigan, the two represents more than $80 million of new developments targeted at the 2002-03 school year, "has rejuvenated our company's development and construction," says Ron Buckley, president and CEO of the firm. Integroup is a Jacksonville, FL-based real estate investment trust that specializes in developing, owning and managing off-campus student housing properties at some of the largest universities in the country. Prudential Real Estate Investors is a major investor in IRT.
The addition of these two communities brings Integroup Realty Trust's Melrose student housing portfolio to more than 8,000 bedrooms and 2,500 apartment units. IRTs other Melrose Apartment properties are located in Gainesville, FL; Jacksonville, FL; Raleigh, NC; Urbana, IL; Austin, TX; and College Station, TX.
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