Trinitas Ventures plans for 8-story student housing project in Fayetteville
by August 28, 2024 12:49 pm 1,689 views
Rendering of planned student housing in Fayetteville by Lafayette, Ind.-based Trinitas Ventures
A more than $60 million student housing project with a rooftop pool is planned for north of Gregg and Center streets, between the Arkansas & Missouri Railroad tracks and the Razorback Greenway in Fayetteville. The eight-story building comprises seven stories and a basement.
According to a company spokesman, Lafayette, Ind.-based Trinitas Ventures is the developer of the 764-bed, 226-unit project, Current on Center. The 380,000-square-foot project will be built on 2 acres at 612 Center St. in Fayetteville.
It’s the company’s first Arkansas project. Trinitas Ventures has developed nearly $1 billion in university-centric real estate and is developing nearly $1 billion in student housing and mixed-use projects.
The company has applied for a $60.49 million building permit, which the spokesman said is expected to be approved in the fourth quarter of this year. If approved as planned, construction would be completed by July 2026.
The project features a mix of apartments, a 239-space parking structure, and indoor and outdoor amenities, including a public park, rooftop pool, gaming and social lounges, study and meeting space, and a fitness center. The on-site parking is planned for two floors underneath the student housing. An off-site parking lot is expected to provide an additional 200 parking spaces.
A limited liability company led by Trinitas CEO Loren King recently acquired the land for the project in separate deals for a total value of $4.68 million. The buyer was AR-UA II Holdings LLC of Lafayette.
It also recently reached a 55-year ground lease with Fayetteville-based Tagon Corp., led by Craig Underwood, at 112 N. University Ave. The address was the location of restaurant Powerhouse Seafood & Grill, which closed in 2023.