CA Ventures Delivers 8 Luxury Student Housing Communities Comprising 4,000 Beds
CHICAGO (September 21, 2016) — CA Student Living, the student housing investment and development division of Chicago-based CA Ventures, today announced it has completed eight luxury student housing communities comprising nearly 4,000 beds across the U.S. Located in eight different states, the properties already are about 95 percent occupied and represent nearly 10 percent of the 47,700 off-campus student housing beds slated to deliver nationwide in 2016. Including 2015 and 2017 deliveries, CA Student Living will bring approximately 12,500 beds to market in a span of just three years, ranking the firm near the top of the industry in terms of U.S. development activity.
“For over a decade, CA Ventures has been providing high-end, highly amenitized alternatives to traditional off-campus housing in college towns across the country,” said JJ Smith, COO of CA Ventures. “These 2016 deliveries continue our legacy of creating market-defining residential and mixed-use developments that are unparalleled in their respective markets and conducive to the lifestyle of today’s student population.”
Valued at more than $460 million, the new communities boost the size of CA Student Living’s portfolio to $1.5 billion. All offer fully furnished apartments with high-end finishes, in-unit laundry and a 1:1 bed-to-bath ratio in most units. Select apartments also feature tech-friendly features like USB outlets, smart TVs, ultra-high-speed internet, wireless surround sound and Bluetooth showerheads in bathrooms. In addition, residents of each community have access to a full suite of amenities as well as CA Student Living programming, designed to enhance study habits, encourage prudent financial planning and assist in attaining career goals.
A full list of the 2016 deliveries, along with the universities served by each community, is below:
Uncommon Athens (210 beds) – University of Georgia; Athens, Ga.
Uncommon Athens, a five-story building located at 165 E. Dougherty St., is the only boutique residential community walkable to both downtown Athens and the University of Georgia campus. In addition to 210 beds across a mix of one-, two- and four-bedroom floor plans, the development contains 10,600 square feet of street-level retail space. Indoor amenities include a 24-hour fitness center, golf simulator, business center, study lounge, group meeting space, club room and coffee bar, while an outdoor entertainment deck on the second level features grilling stations, landscaped seating areas and six flat-screen TVs for game-day gatherings. Residents also have access to on-site parking.
Uncommon Charlottesville (357 beds) – University of Virginia; Charlottesville, Va.
Uncommon Charlottesville, a six-story building located at 1000 W. Main St., is a short 12-minute walk from the Lawn at the University of Virginia and adjacent to the university hospital and medical center. Optimally located between the University of Virginia campus and downtown Charlottesville, the 122,000-square-foot community includes 357 beds across studio, one-, two-, three- and four-bedroom floor plans. Amenities include a 24-hour fitness facility, golf simulator, pool with sundeck, business center, group meeting room, private study lounges and coffee bar. Indoor bike storage and gated parking are available. The property also houses Hardywood Park Craft Brewery and cycling studio Purvelo, which occupy 6,200 square feet of ground-level retail space.
Uncommon Madison (410 beds) – University of Wisconsin-Madison; Madison, Wis.
Uncommon Madison consists of one 10-story building offering studio, one-, two-, three- and four-bedroom suites comprising a total of 410 beds. Located at 110 N. Bedford St., the community is an 11-minute walk to the University of Wisconsin-Madison Memorial Library. On-site amenities include a high-tech health and fitness center; business center; coffee bar; club room; several lounges; outdoor courtyard with grilling stations, social seating and bag toss area; rooftop terrace with fire pit; indoor bike storage; and garage parking. In addition to offering convenient access to campus, the community is also steps from the Kohl Center and within walking distance of Camp Randall Stadium and popular shopping, dining and nightlife destinations around State Street, University Avenue and Capitol Square. Café Social, a locally owned coffee and pastry shop, is located in the lobby, serving both residents and neighbors of the surrounding community.
Uncommon Tampa (512 beds) – University of South Florida; Tampa, Fla.
Situated at 14202 N. 42nd St., just six blocks from the University of South Florida campus, Uncommon Tampa is a six-story, 512-bed community offering a mix of two-, three- and four-bedroom suites. Community amenities include a fitness center, business center, coffee bar, multiple lounges, and a courtyard with grilling stations, a pool and sundeck. Bike storage and indoor garage parking are also available. The property also includes Felicitous Coffee, a neighborhood coffee and pastry shop that occupies space in the lobby and is open to the public.
HERE Kansas (624 beds) – University of Kansas; Lawrence, Kan.
The largest private student housing development in Lawrence, Kan., HERE Kansas includes 624 beds and 15,000 square feet of retail space. The eight-story, 455,000-square-foot mixed-use complex at 1111 Indiana St. is located along a university shuttle route and is a six-minute walk to the University of Kansas Memorial Union. Indoor amenities include a basketball court; fitness center with Fitness on Demand®; coffee bar; club room/arcade; media room; and bike storage room with repair station. An outdoor amenity deck overlooks Memorial Stadium and features an infinity edge pool, hot tub and cabanas, while a lower deck includes an outdoor theater, yoga lawn, fire pit and grilling stations. Garage parking is also available.
NXNW (648 beds) – West Washington University; Bellingham, Wash.
Located at 800 Viking Circle in Bellingham, Wash., NXNW Bellingham boasts 350,000 square feet of living and amenity space just 1 mile north of the West Washington University campus. Comprising 13 three-story buildings with 648 beds, the garden-style community offers two- and three-bedroom suites ranging in size from 957 to 1,421 square feet. A 3,000-square-foot clubhouse features a library, study lounge, computer center, 24-hour fitness center, tanning beds, game room and coffee bar. Outside, residents can enjoy a fire pit, grilling stations, and outdoor chess and ping-pong tables. On-site parking and transportation to campus are also available for residents.
The Foundation (725 beds) – California State University, Sacramento; Sacramento, Calif.
The Foundation comprises 10 three-story buildings with a mix of two- and three-bedroom suites, as well as two-story townhouse options, for a total of 725 beds. Located at 3075 Redding Ave., just a half-mile south of California State University, Sacramento, the garden-style community offers a resort-style pool with TV lounge and grilling stations; outdoor volleyball and basketball courts; a 24-hour fitness center; resident lounge and game room; study lounge; computer center; and coffee bar. Residents are within walking distance of a Target store and also have access to on-site parking and private shuttle service to campus.
Evolve Allendale (600 beds) – Grand Valley State University; Allendale, Mich.
Located at 4967 Pierce St., Evolve Allendale is a garden-style apartment complex consisting of 10 three-story buildings approximately 1 mile west of the Grand Valley State University campus. Offering two- and three-bedroom suites, the buildings collectively house a total of 600 beds. In addition to boasting the largest resort-style pool in Allendale – complete with an in-pool volleyball court and tanning shelf – Evolve Allendale offers a poolside lounge, fire pit, and outdoor basketball and sand volleyball courts. A 24-hour fitness center, computer lounge, study lounge, clubroom and game room round out the amenity offerings. On-site parking and complimentary bus service to campus are also provided.
About CA Ventures
CA Ventures LLC is a Chicago-based real estate investment holding company whose international portfolio includes $6.3 billion in assets throughout the U.S. and Latin America. While initially focused on student housing, CA Ventures has since diversified into other sectors, including office, senior lifestyle, multifamily, and hospitality. In addition to development and renovation, the firm specializes in institutional joint ventures; value add investing; equity and debt sourcing; and asset management services. CA Ventures serves as the holding company for the CA family of companies, including CA Student Living, CA Office / Vanderbilt Partners, CA Senior, CA Residential, CA International, CA Hospitality, and CA Asset Services. For more information, visit www.ca-ventures.com.
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Click here to access a photo album with property images and captions for this release. All photos should be credited to Matthew Dula Photography.