Campus Apartments LLC, a US-based student housing company, has entered into a partnership with Howard University to develop $107 million modern on-campus residences at the campus of the university in Washington, DC.
The project will offer space for 1,360 students and will be located on the southeastern part of the campus, in close proximity to existing campus facilities. The project involves development of two on-campus residential facilities, which will accommodate two-person semi-suites.
The development will include communal social and study lounges, game rooms, laundry facilities and independent apartment units for faculty, staff and guests. The project will also include 200-person multipurpose room, classrooms, academic advisory offices and a new home for the university’s Office of Residence Life.
The project team comprises Provident Resources Group, RBC Capital, Clark Construction and McKissack & McKissack. The project was financed through tax-exempt bonds issued by the District of Columbia.
Campus Apartments is engaged in the development and management of university-affiliated real estate. The company has more than $2 billion worth of assets under management with more than 30,000 beds in 24 states.