Construction Under Way for New Student Housing Next to Georgia Tech in West Midtown Atlanta
Posted: November 12, 2019 | Tradewinds
Through a joint venture, Campus Realty Advisors has started construction of Catalyst, a new purpose built student housing community adjacent to the campus of Georgia Tech in West Midtown Atlanta. The community will cater to students at the University. The project is expected to be completed and open for occupancy for the start of the Fall semester in 2021.
Catalyst will provide students a safe, convenient place to live that is a just short walk to all areas of campus and within just steps of a trolley and bus stop. The property will have 187 apartment units including 532 bedrooms, and each bedroom will have its own bathroom. It will offer top of the market amenities including a commercial quality fitness center, multiple study rooms in each building, club rooms with collaboration and game areas, a STEM lab, a bike shop and storage area, a sky deck with views of the Atlanta skyline, three relaxing courtyards, a swimming pool deck with grilling and gathering areas, 24-hour package delivery lockers and convenient ride-share pick-up.
Realiance and T2 Capital Management have partnered with Campus Realty in the development. Realiance is a Dutch investment group headquartered in Amsterdam and T2 is a privately held real estate investment firm based in Wheaton, Illinois. Campus Realty is based in Atlanta and will oversee the development and asset management of the property.
Jeff Brown of T2 noted that "This opportunity fits squarely within our strategy. This is the best location for off-campus student housing in the Georgia Tech market. We're working with Campus Realty on similar properties in other markets, and this type of location and product offering is always in high demand." Alf Span of Realiance added "We're excited to offer Georgia Tech students the location and amenities that will help them excel in their campus life." Randy Herron, a Principal with Campus Realty, commented "Our approach is to find properties that are walkable to campus and build communities specifically to meet the needs of the university's students. We look forward to creating a quality living and learning experience for our residents and value for our partners."
T2 Capital Management focuses on providing capital to transitional and opportunistic middle-market commercial real estate assets throughout the United States. T2 provides capital structured as bridge loans, mezzanine loans, preferred equity, and joint venture equity.
REALIANCE invests in the development, acquisition, and renovation of real estate propositions in economically stable growth markets in the United States, Europe and Brazil. Realiance has established a programmatic investment strategy with Campus Realty for the development and acquisition of student housing in the United States.
Campus Realty Advisors is a boutique real estate investment and development company focused on creating value in off-campus student housing. Campus Realty identifies strong college markets and properties that offer significant profit potential for its investment partners and delivers quality living experiences for students.