ARLINGTON, TX-American Campus Communities Inc. has broken ground on a 488-bed student housing project adjacent to The University of Texas at Arlington. The off-campus development, dubbed University Centre, has a price tag of $24.9 million.
University Centre is just one of several development projects the Austin, TX-based student housing REIT has underway. Earlier this month, it announced that it had begun construction on four on-campus, owned projects totaling 3,249 beds. Collectively, the projects – two in Arizona, one in New Mexico and one in Texas – have a development cost of $156.6 million.
ACC says demand for student housing near UT Arlington has increased in recent years as the university’s enrollment has climbed to nearly 34,000 students. The university has a substantial waiting list that far exceeds the 4,400 beds currently available on campus.
University Centre, which will be located north of UTA Boulevard near the university’s Maverick Activities Center, will be the closest student housing project developed in the off-campus market and will be adjacent to existing on-campus housing. It is designed as an urban infill community that will complement the city’s master plan for revitalization of the downtown area and create a more vibrant campus edge.
The development will consist primarily of four-bedroom units with a small mix of two- and three-bedroom units, all of which include private bedrooms and bathrooms. All units will be fully furnished and include washers and dryers.
Additionally, University Centre will feature a 7,040-square-foot community center that includes a fitness center, game lounge, student lounge, wireless Internet caf
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