Greystar Starts Work on San Diego Student Housing
The community is expected to open in 2028.
A partnership between Greystar, Kanden Realty & Development America and Tokyo Tatemono has broken ground on Accolade Campanile, a 310-unit, 605-bed student housing development intended to serve San Diego State University.
Leasing will begin in August 2027, ahead of a June 2028 completion date.
Accolade Campanile will be located next to SDSU’s existing on-campus housing, across from the southern entrance to the school at the corner of Montezuma Road and Campanile Drive. The development will also include 4,200 square feet of ground-floor retail space, complementing existing shopping and restaurants in the vicinity.
Amenities at the community will include an outdoor deck with a pool, spa, as well as kitchens and gathering spaces. It will also feature fire pits, a fitness center, clubhouses, game lounges as well as an indoor bicycle storage area and dog spa. The site will offer 73 EV parking spaces that will be powered in part by an on-site 338kW solar energy system.
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Helaba Landesbank Hessen-Thüringen provided construction financing for the development. San Diego’s JWDA Architects designed the building, which includes furnished units with private bedrooms, as well as study and collaboration space on each floor.
The development is a short walk to the SDSU light rail station, which provides access to the Mission Valley Campus, Snapdragon Arena and other attractions of the greater San Diego region.
Kanden Realty & Development America is the property development arm of Japanese utility provider Kansai Electric Power Group. Tokyo Tatemono is a publicly-traded real estate company based in Tokyo.
Finishing a year for student housing development
Greystar is the largest owner of apartments in the United States, according to the National Multifamily Housing Council, with more than 122,500 units nationwide. The company is active in the full range of multifamily, including in the student housing sector.
In September, company joined forces with University Enterprises and JLC Infrastructure to break ground on Hornet Place, a 101-unit, 352-bed student housing project in Sacramento, Calif. The property, serving California State University, will come online in time for the 2027-28 academic year.
Student housing, which tends to be at least somewhat resistant to bumps in the economy, finished the latest preleasing period (ending in the summer) in a strong position, with occupancy at 95.1 percent, according to Yardi Matrix, which tracks housing at 200 universities nationwide. That is up from 93.6 percent a year earlier.
