AUSTIN, TX—With a new assignment from Lennar Multifamily, Greystar Student Living's management portfolio has expanded by 343 beds. The firm, a subsidiary of Lennar Corp., chose Dallas-based Greystar to run the Crest at Pearl, a contemporary student housing development in the West Campus area of Austin.
Construction is currently underway at the south end of the University Neighborhood Overlay, at 706 W. Martin Luther King Blvd., at the corner of Pearl Street. The project is within close proximity of the University of Texas at Austin, and sits amid the urban vibrancy of Austin's music, night life and shopping.
“We've hired Greystar to handle the marketing, leasing and management of the development”, says John Allums, president of Lennar Multifamily's Texas Division. “Greystar Management Services has significant student housing expertise and has worked extensively in the West Campus market on multiple projects”.
A fully gated community, the Crest at Pearl features elevator access to one- to four-bedroom luxury apartments with ultra-modern interior finishes including granite countertops, stainless steel appliances, custom cabinetry and plank flooring. Plans also call for features such as nine-foot ceilings, walk-in closets, full-size washers and dryers and balconies in most units. Additionally, the three and four-bedroom floor plans will be fully furnished with upscale modern furnishings.
The community is slated for completion in time for the fall 2014 semester. Residents will also enjoy such amenities as a clubhouse, business center, study rooms, Wi-Fi access, state-of-the-art fitness center overlooking the resort-style swimming pool located in the courtyard, and an on-site management office. The property also offers an outdoor kitchen with grilling stations, a recreational area, bike storage and ample parking, as well as a stand-up tanning unit and a location close to area parks with lakes, jogging and biking trails.
“We're excited to have the opportunity to work with Lennar,” says Jennifer Roden, director of real estate for Greystar Student Living, a division of Greystar Real Estate Partners. “As a top national builder and developer, they bring a unique perspective to student living, which is reflected in the quality and thoughtful attention to detail found at the Crest at Pearl.
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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.
