flexiblefullpage -
billboard - default
interstitial1 - interstitial
Currently Reading

Massive student housing project in Texas will be ready this Fall

University Buildings

Massive student housing project in Texas will be ready this Fall

Developers hope the early opening of some units sets the tone for the community and future rentals.


By John Caulfield, Senior Editor | January 9, 2017

Park West, a 3,400-plus bed student housing complex at Texas A&M, is the university system's fifth public-private parternship in the county. Image: Weitz Company, courtesy of Servitas

Park West is the biggest student housing project under development in the country. Located within 47 acres on the campus of Texas A&M University in College Station, the project will encompass 15 buildings, 2.2 million sf and 3,406 beds. Nearly 1,000 construction workers have been this jobsite daily, and another 100-plus offsite designers, managers and engineers have worked on this project, whose developer, Servitas, with its design-builder and joint-venture partner Weitz Company, have pumped $300 million into the local and state economy.

Last August, Weitz delivered the first 144 beds at Park West, a year ahead of the project’s August 2017 completion date. “On a project of this size, having beds open early can be a tremendous asset,” Michael Short, Servitas’ COO, explains to BD+C. “It starts to set the culture for what it will feel like to live at Park West, and builds awareness and interest among the student body. 

“When Weitz came to us,” he continues, “and said that by moving a few things around, we could have these beds ready earlier than planned, of course we were excited.”

The one- to- four-bedroom studio, apartment, and garden-style units are renting for between $600 to $1,000 per month.

But Short acknowledges that opening part of a student housing project that early is risky because “if we pre-leased these beds and then construction slipped by even a day, it could ruin the reputation of the entire project.”

When a student housing project can’t open when the school year begins, it loses the opportunity to lease those apartments for at least another seminar, or more.

Aside from Weitz, the Building Team includes the Boca Raton, Fla., and Houston offices of PGAL (design partner); Power Design Inc., Kilgore Mechanical, Coleman & Associates Landscape Design, Moss Construction, and Godfrey Construction. Subcontractors include Larry Young Paving and RSL Contractors Ltd.

Park West is the university system’s fifth student housing public-private partnership in Brazos County, joining White Creek Apartments, U Centre at Northgate, Easterwood Airport and Century Square.

Its $368 million development and construction cost—which Short believes is the largest single new-build student housing P3 to this point—was financed upfront with tax-exempt bonds. The project is expected to generate $600 million for the university system of the life of its 30-year ground lease to its owner, the nonprofit National Campus and Community Development-College Station, which paid $18.5 million upfront, and will give back $20 million in revenue per year to the system.

Servitas’ initial management contract is for five years. But Short hopes his company will prove itself to the university so that the service contract would be extended at least the life of the ground lease, and possibly beyond.

 

 

Part of the amenities-rich Park West opened a year early, with the goal of drumming up interest in this project among students and the community. Image: Weitz Company, courtesy of Servitas

 

 

Related Stories

University Buildings | Jan 27, 2023

Ozarks Technical Community College's advanced manufacturing center is first-of-a-kind in region

The new Robert W. Plaster Center for Advanced Manufacturing at Ozarks Technical Community College in Springfield, Mo., is a first-of-a-kind educational asset in the region. The 125,000-sf facility will educate and train a new generation in high tech, clean manufacturing and fabrication.

Student Housing | Jan 26, 2023

6 ways 'choice architecture' enhances student well-being in residence halls

The environments we build and inhabit shape our lives and the choices we make. NAC Architecture's Lauren Scranton shares six strategies for enhancing well-being in residence halls.

University Buildings | Jan 17, 2023

Texas Christian University breaks ground on medical school for Dallas-Fort Worth region

Texas Christian University (TCU) has broken ground on the Anne Burnett Marion School of Medicine, which aims to help meet the expanding medical needs of the growing Dallas-Fort Worth region.

ProConnect Events | Jan 16, 2023

Mark your calendar! 7 ProConnect Events coming in 2023 – Multifamily, Single Family, Education, and Sustainability

ProConnects bring building product manufacturers and suppliers together with architects, contractors, builders, and developers to discuss upcoming projects and learn about new products and technical solutions. 

Adaptive Reuse | Jan 12, 2023

Invest in existing buildings for your university

According to Nick Sillies of GBBN, students are increasingly asking: "How sustainable is your institution?" Reusing existing buildings may help answer that.

University Buildings | Dec 22, 2022

Loyola Marymount University completes a new home for its acclaimed School of Film and Television

California’s Loyola Marymount University (LMU) has completed two new buildings for arts and media education at its Westchester campus. Designed by Skidmore, Owings & Merrill (SOM), the Howard B. Fitzpatrick Pavilion is the new home of the undergraduate School of Film and Television, which is consistently ranked among the nation’s top 10 film schools. Also designed by SOM, the open-air Drollinger Family Stage is an outdoor lecture and performance space.

Adaptive Reuse | Dec 21, 2022

University of Pittsburgh reinvents century-old Model-T building as a life sciences research facility

After opening earlier this year, The Assembly recently achieved LEED Gold certification, aligning with the school’s and community’s larger sustainability efforts.

Sponsored | Resiliency | Dec 14, 2022

Flood protection: What building owners need to know to protect their properties

This course from Walter P Moore examines numerous flood protection approaches and building owner needs before delving into the flood protection process. Determining the flood resilience of a property can provide a good understanding of risk associated costs.

Adaptive Reuse | Dec 9, 2022

What's old is new: Why you should consider adaptive reuse

While new construction allows for incredible levels of customization, there’s no denying that new buildings can have adverse impacts on the climate, budgets, schedules and even the cultural and historic fabrics of communities.

Student Housing | Dec 7, 2022

9 exemplary student housing projects in 2022

Production continued apace this year and last, as colleges and universities, for-profit developers, and their AEC teams scrambled to get college residences open before the start of classes.

boombox1 - default
boombox2 -
native1 -

More In Category




halfpage1 -

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021

 



Magazine Subscription
Subscribe

Get our Newsletters

Each day, our editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Subscribe

Follow BD+C: