CHICAGO—Like many of the newest student housing complexes, the 524-bed community provides an array of resort-style amenities.
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Brian J. Rogal |
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Updated on August 09, 2016
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Campus Circle provides a two-story clubroom with 13,500 square feet of amenities.CHICAGO—The student housing market has enjoyed several strong years, a fact readily apparent to anyone visiting universities in the Chicago region.McShane Construction Co., for example, has just completed Campus Circle, a new five-story apartment complex adjacent to the University of Illinois at Urbana-Champaign campus ,for joint venture partners,The Bainbridge Cos. and a subsidiary ofBlue Vista Capital Management. Located at 1010 W. University Ave. in Urbana, IL, t he 524-bed, 276,000 square foot development includes the resort-level amenities that have become common for class A housing targeted at the student population. Campus Circle has more than 13,500 square feet of amenities such as a two-story club room with a communal kitchen, 90” entertainment wall, various arcade games with two separate rooms equipped with the latest digital-gaming consoles, tanning bed facilities, a theater and 20 private study rooms. There is also a two-story fitness center featuring state-of-the-art strength and cardio equipment together with a yoga/dance studio.Such projects are popping up all over the US. In terms of project value, in 2015 construction activity in the education sector grew by more than 12% year over year, mostly attributed to spending on higher education facilities, according to a recent study byJLL. “If you spend time on any campuses, you will be amazed by the amount of work being done to lure students,”Todd Burns, president, project and development services,JLL Americas, told GlobeSt.com. On a recent visit to a major state university he “saw no less than seven different housing developments under construction,” each with resort-style amenities and worth more than $10 million. S tudents at Urbana’s Campus Circle can select from one-, two- and four-bedroom configurations with all bedrooms incorporating a private bathroom. Each apartment has open floorplans, granite countertops, high-end appliances and in-unit washers and dryers.McShane’s assignment included 2,000 square feet of retail space on the ground floor and an adjacent five-story, 101,000 square foot access-controlled parking garage accommodating up to 291 vehicles. The company also completed an expansive technology package providing Wi-Fi Internet connectivity throughout the entire property.The rooftop of the development’s communal area provides a sizable covered lounge, bar with outdoor television, fire pits and seating areas while the outdoor swimming pool and kitchen, located within the property’s courtyard, offers additional outdoor entertainment space. “We utilized our depth of experience in delivering contemporary, class A rental properties to augment the goals and objectives of this project,” saidJeffrey A. Raday, president of McShane. “The finished property offers a balance ofresidential units and communal spaces that meet student lifestyles while aligning with the quality and budget of ourvalued clients.”Charlan Brock & Associates, Inc.was the project architect for this off-campus student housing assignment.Peak Campuswill manage the property.
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