Harrison, Trinitas Partner on $450M Student Housing Venture
JV will develop four student housing communities encompassing 3,390 beds.
Harrison Street and Trinitas Ventures are joining forces on a $450M plan to develop four student housing communities encompassing 3,390 beds in four different states.
The Class A communities, to be located in Bloomington, IN, Orlando, Madison, WI and Athens, GA will be managed by Trinitas.
The largest project, known as Atlas Athens, will be located at 2400 Lexington Road, a couple of miles from the University of Georgia campus and just down the road from the Athens city center.
Atlas Athens will encompass 1,053 in a mix of studio to four-bedroom floor plans. The dormitory campus will include a fitness center, clubhouse, game room, swimming pool and outdoor space.
Current at Latimer Square, a student housing community that will serve the Indiana University campus in Bloomington, will feature five four-story buildings encompassing 906 beds. Units will range from studios to five-bedroom apartments.
The Atlas Athens and Current campuses are scheduled to open in Q3 2023.
Current Orlando, a 750-bed campus, will serve the adjacent University of Central Florida. The community will be equipped with study lounges, a basketball court, a swimming pool and 609 parking spaces,
Atmosphere Madison will serve the University of Wisconsin in a 12-story building featuring 681 beds, with amenities including a rooftop pool, business center, coffee bar and study rooms.
Over the past 15 years, Harrison Street and Trinitas Ventures have partnered on 22 student housing developments in the US encompassing 16,000 beds.
In August, Trinitas kicked off the second phase of The District at Clifton Heights, a 5-acre, $640M mixed-use development in Cincinnati that the company is building in partnership with Crawford Hoying.
Once completed, The District will have six multifamily, student-dedicated and hospitality buildings, as well as retail space.
The second phase of the project will include the $250M Branded Hub Cincinnati, a 14-story student housing community encompassing 1,112 beds. Located at 350 Straight St., the property is within walking distance of the University of Cincinnati campus.
The project is scheduled to be completed in Q2 2024. According to Yardi Matrix, the University of Cincinnati achieved nearly 25% in YOY prelease growth in Q2 2022.