Sunday, September 8, 2019

CA Student Living to Open Doors to $550M in New Projects in Six States

by John Jordan
CA Student Living reports that it is about to open six new student housing developments in six states that are valued at more than $550 million.

The firm, the student housing investment and development division of Chicago-based CA Ventures, will open the student housing communities that total more than 3,000 beds in Florida, Indiana, Illinois, Iowa, Ohio and Pennsylvania.
“CA Student Living is doing what we’ve always done, delivering exceptional yet differentiated, pedestrian-oriented communities with thoughtfully designed amenities and modern accoutrements in university markets,” says JJ Smith, president of CA Student Living. “With investor interest at an all-time high, our team of seasoned professionals are sourcing some of the best campus-adjacent opportunities in the country.”

The six new properties are:

The Link University City (252 beds) – Drexel University; Philadelphia

Offering a walkable, near-transit location in University City—home to Drexel University, the University of Pennsylvania, the University of the Sciences and the Restaurant School at Walnut Hill College – The Link University City is a renovation of a historic three-story building, coupled with a new five-story addition, at 3600 Lancaster Ave. and directly adjacent to University City Square. Available residences range in size from one to three bedrooms, including six two-level townhomes along Lancaster. Amenities include a 24-hour, two-story fitness and wellness center; private study rooms; co-working and research lounges; cyber lounge with free printing and scanning; a lobby lounge with breakfast and coffee bar; sky lounge with pool table, darts and TVs and community kitchen.

CA Management Services, the firm’s property management arm, will manage leasing and operations for the 2019 portfolio.

Identity Miami (621 beds) – Florida International University; Miami

Located at 400 SW 107th Ave., Identity Miami is just three blocks from FIU’s main campus and around the corner from the university’s College of Public Health, College of Nursing & Health Sciences, College of Medicine and Department of Biostatistics. The 15-story building offers one- through four-bedroom floor plans, including upgraded penthouses. Amenities include a shuttle to campus, 24-hour fitness and wellness center, yoga room with Peloton bikes, lobby lounge with coffee bar, cyber lounge with free printing and scanning, private study rooms, communal study lounge, sky lounge with balcony, and clubroom with TVs, a pool table and demo kitchen. Outdoor amenities include a sun deck with resort-style pool and cabanas, as well the first-ever vintage Volkswagen Bus retrofitted as a DJ booth on the pool deck.

Rise on Chauncey (675 beds) – Purdue University; West Lafayette, IN
Situated steps from the Purdue University campus and popular shopping, dining and nightlife destinations along State Street and Chauncey Avenue, Rise on Chauncey is a 16-story high-rise at 100 S. Chauncey Ave. that offers studio through four-bedroom residences, including penthouse units with upgraded finishes. Spanning nearly 20,000 square feet across four floors, amenities include a 24-hour fitness center with yoga room and Fitness On Demand; research room with conference seating and study bar; cyber lounge with free printing and scanning; private study rooms; penthouse club lounge; and arcade room with pool table. Outdoor amenities include a rooftop pool and hot tub; adjacent sky terrace with an outdoor TV, hammocks, a fire pit and grills; and a gaming courtyard. The development’s lower-level retail space will house The Tap, a craft brewpub that originated in Bloomington.

The Link Evanston (411 beds) – Northwestern University; Evanston, IL

Located at 811 Emerson St. in the heart of downtown Evanston just one block from the Foster Purple Line stop and a short walk to the Davis Street/Evanston Metra stop, The Link Evanston features 411 beds in a mix of studio, one-, two- and three-bedroom floor plans. Amenities include a 24-hour fitness center with CrossFit equipment and Fitness On Demand, club/game room, meeting lounge and well-appointed workrooms. Outdoor amenities include a resort-style pool and entertainment deck with grilling stations, a fire pit and cabanas. The nine-story building also offers indoor bike storage and garage parking.

Latitude at River Landing (665 beds) – University of Iowa; Coralville, IA

Located in the fast-growing Iowa River Landing District of Coralville, Latitude at River Landing is a five-story community less than a mile from the University of Iowa campus. The development at 104 E. 7th St. features studio through four-bedroom apartments steps from nearby restaurants and retail, including a Trader Joe’s. On-site amenities include a dedicated resident shuttle, 24-hour fitness and wellness center, yoga room with Fitness On Demand, clubroom with TVs and a fireplace, rooftop and sky lounges with balconies, co-working and research room, cyber lounge with free printing and scanning, private study rooms and an arcade room with pool and air hockey tables. Outdoor amenities include a resort-style pool, hot tub and sun deck; adjacent courtyard with a Jumbotron, fire pit, hammocks and grilling stations; full-size basketball court and dog run.

Latitude at Kent (384 beds) – Kent State University; Kent, OH

Located at 1450 E. Summit St., across from the heart of the Kent State University campus, Latitude at Kent is a five-story community with a mix of studio, one-, two-, three- and four-bedroom residences. Amenities include a 24-hour fitness suite, yoga room with Peloton bike and Fitness On Demand, clubroom with coffee bar, study lounges with balconies, cyber lounge with free printing and scanning, private study rooms, and game room with TVs and a pool table. Outdoors, residents have access to a resort-style pool, hot tub and sun deck with adjacent grilling stations, as well as a separate courtyard with study deck, fit pit and bocce court.

Since 2008, CA Student Living has delivered more than $5 billion in near-campus housing across the US encompassing more than 40,000 beds. The firm has already begun construction on an additional nine communities, featuring nearly 4,000 beds, to be delivered in fall 2020. Together with another 24 communities in the predevelopment phase, which would deliver between 2021 and 2023, it represents a five-year tally of more than $3 billion in executable development.

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