Texas Group Plans to Build Off-Campus Housing Near UA
by October 17, 2011 2:34 pm 76 views
A Texas property management company has received final zoning approval to build an off-campus housing project near the University of Arkansas.
Asset Campus Housing, an industry leader in student housing, is planning to develop the 16.24-acre site at 833 Beechwood Ave. Barrett Kirk, the company’s senior vice president for development, said the property, presently owned by Pratt Industries Inc., is under contract.
The site, formerly a hardwood saw mill operated by Love Box Co., is at Beechwood and Martin Luther King Boulevard.
“We’re currently in the design phase with the plans and we’ll submit those for approval by the end of the year,” Kirk said.
If approved, construction will begin this spring and pre-leasing will begin in September. The development, which will have 648 beds, should be completed in time for the 2013-2014 school year.
That should be welcome news for the UA, which is experiencing some housing concerns in the wake of this semester’s record enrollment of 23,199.
“Universities with a growing enrollment is a key indicator we look for, along with proximity to campus,” Kirk said. “We’ll easily be within walking or biking distance to campus.
“We really like the site we have. We’ll build something Class A. Very nice.”
According to a news release, the community will offer fully furnished one-, two- and four-bedroom units, with private bathrooms for each bedroom along with washers, dryers and walk-in closets.
It will also feature a 10,100-SF clubhouse with a fitness center, Full Swing golf simulator, theater room, computer lab, game room with custom gaming stations, wireless Internet cafe, resort-style pool — which Kirk said would be the largest in Fayetteville — and a pro-style sand volleyball court.
Lease agreements will be available on a per-bedroom or all-inclusive basis.
Asset Campus Housing is an affiliate of Houston-based Asset Plus Companies. ACH manages more than 60 properties in 18 states exceeding 40,000 beds nationwide. The Fayetteville property will be its first development in Arkansas.