FAYETTEVILLE, AR—Students attending the University of Arkansas will have a new off-campus student housing option available in the next couple of years. Fountain Residential Partners of Dallas and locally based Specialized Real Estate Group are gearing up to break ground on a 1,100-bed student cottage neighborhood located two blocks from campus. The first phase, Idyll Village, will house 670 beds in a traditional neighborhood setting, with high-level finishes and amenities.
Idyll Villagewill integrate nine modern one- to three-story home designs clustered around a state-of-the-art 8,000-square-foot clubhouse with study rooms, a fitness facility and active lounge and study areas centered over a lavish resort pool. The units include private porches, balconies in select bedrooms, queen sized pillow-top beds, granite countertops, stainless steel appliances, wood-look flooring, a premium furniture package that will include 50" flat screen televisions with DVR's in the living areas, door bells, and select units will feature in-home game rooms featuring pool tables and a wet bar overlooking a two-level volume living room. The all-inclusive community incorporates utilities, highest-speed broadband and wireless Internet and extended cable TV.
A central park area will be a community focal point and connect with the 36-mile Razorback Greenway for access to campus and nearby retail by foot or by bike. The walkable streets throughout the site will encompass ample car and scooter parking, as well as electric vehicle charging stations.
“This development is the best of both worlds,” comments Seth Mims, SREG partner and president. “Proximity to campus combined with the connected neighborhood feel that students love, all wrapped up in a modern, green design. This concept should be highly successful in the Fayetteville market.”
Brent Little, president at Fountain Residential, adds, “On average, these types of cottage communities, in similar campus markets, are located two miles or more away from campus and require long commutes that put strain on students and local residents alike, and end up distancing students from easy access to campus for participation in athletics, Greek functions and other on-campus activities. Idyll Village is uniquely located near campus away from established single-family neighborhoods and will have the synergy with surrounding student housing and the commercial thoroughfare that is MLK Boulevard.”
Locally based Modus Studio is designing the project. Fountain Residential and SREG will also partner to develop an adjacent parcel that will serve as a 430-bed Phase II for Idyll Village.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.