The developers and managers of the student housing properties in the United States, American Campus Communities has announced that the construction of the two off-campus housing complex for students has commenced.
The housing complex project near the Texas Tech University is worth $34.8 million while the project next to the University at Buffalo is worth $44.8 million.
The CEO of American Campus, Bill Bayless stated that there are 13 projects under construction currently with two more constructions scheduled to begin soon. By 2012, American Campus will deliver development projects worth $500 million.
The first housing project is The Village at Overton Park in Lubbock, Texas. It is conveniently located across the University Avenue and is alongside the retail center, The Shoppes at Overton Park. It will house 612 beds and will be in close proximity to the core campus of Texas Tech University. The property features a community center spread across 7400 ft2 with facilities such as a social lounge, fitness center, internet café, pool and outdoor grill. The 3 storied fully furnished townhome units will consist of a conventional 4 bed, 4 bath units on the lower level, upon which 4 bed, 41/2 bath units will be constructed. 2 bedroom flats will also be constructed. Each unit will feature washers and dryers. A gated parking garage will also be available.
The second housing project, which is currently under construction, is The Villas on Rensch in Amherst, New York. It will be the closest to the core campus of SUNY Buffalo. The property will accommodate 610 beds along with a community center spread across 8,900 ft2 to include a spa, a game lounge, fitness center, student lounge, internet café, outdoor amenity area with gas grills, patio, outdoor fireplace and 2 bus shelters with heating. The two storied townhome units will feature fully furnished 4 bed and 4 bath units along with washers and dryers.
The off-campus housing complexes at Overton Park and Rensch will begin leasing the units this August with occupancy scheduled for next year.