DALLAS—Fountain Residential Partners is under way on a trio of student housing developments totaling almost 1,400 beds. All the campus-adjacent properties are slated for a Fall 2014 opening. They serve the University of Texas – San Antonio, the University of Houston main campus and the University of Minnesota – Twin Cities.
The San Antonio project, Prado, sits across the street from the UTSA campus and is adjacent to the Block, described as “a new food truck court experience and patio bar.” Designed with Spanish-inspired architecture, the community will house 498 students as well as a 6,000-square-foot restaurant within a four- and five-story development.
Fountain Residential has been following this particular site for several years, reveals executive vice president Jon Clayton. “There simply is not a better location in the marketplace and we feel fortunate to be able to transform the property into a mixed-use community that the neighborhood, students and the university will be proud of,” he says. “It will definitely raise the bar for student housing at UTSA and matches the master plan vision for the future of UTSA Boulevard."
Prado features high-end amenities and features such as keyless entry, open floor plans, granite countertops, stainless steel appliances, wood-look flooring, 50-inch flat-screen TVs with DVRs, European-influenced furnishing, high-end lighting, and WiFi throughout the property. It also offers a 10,000-square-foot, two-level amenity center with fitness, study and other amenities that would make it a true mixed-use living environment.
At the University of Houston, the Vue on MacGregor will offer the 40,000 students of the recently named Tier One research institution 347 beds of new housing in a five-story modernist design. Located directly across Brays Bayou from the Bayou Oaks on-campus housing community that serves the Greek housing needs of the university, the Vue is the first privately owned off campus community for the UH and is within a short walking distance to the center of campus and two new light rail stations.
The recent Tier One Research University designation had resulted in several new projects for UH, which is experiencing significant growth. “Reaching Tier One truly takes UH to a new level,” says Trevor Tollett a development VP at locally based Fountain. “This is an exceptional site and project that will support UH's efforts on campus and we look forward to being a part of the community.”
Further north, at the University of Minnesota in Minneapolis, the firm is working on Metro Park East. The 551-bed project sits on the light rail line and is within a five-minute walk to the campus, the fourth largest university in the country with 52,000 students. And possibly much to the delight of its future residents, Metro Park East is also in close proximity to the new Surly Brewing Co., a “destination brewery” that's received significant local and state support.
“Our location between the brewpub, the new light rail stations and the football stadium where the Golden Gophers and Minnesota Vikings play will notably increase our visibility to the student body and is unmatched in the market,” says Clayton. “The central park in the center of the community, the four outdoor plazas and apartments with balconies and patios provides unmatched outdoor amenities for such an urban location.”
Grand Campus Living, based here, will provide leasing and management services to all three communities. Centerpoint Builders, another Dallas firm, will serve as general contractor for the Vue on MacGregor and Prado. Weis Builders of Minnesota will build Metro Park East. The architects for Prado, Vue and Metro Park are, respectively, Stuart Roosth Architects, 5G Studio and Cube 3 Architects.
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Sule Aygoren
Aygoren oversees the editorial direction and content for ALM’s Real Estate Media Group, including Real Estate Forum and GlobeSt.com. In her tenure with ALM, she’s held roles of increasing responsibility, including Managing Editor. Aygoren has received several awards for her coverage including Best Trade Magazine Report from the National Association of Real Estate Editors and the James D. Carper Award for Young Journalists. Under her direction, Forum has received four national NAREE awards for Best Commercial Real Estate Trade Magazine.
