Ground Broken on UNT Student Housing

By Dees Stribling, Contributing Editor

Denton, Texas.—Fountain Residential Partners and Crosswind Development Partners have broken ground on 33 North, a 139-unit/427-bed student housing property in Denton, a small city north of Dallas. The property is adjacent to the University of North Texas, and will be completed in time for occupancy in the fall of 2013.

Comprised of one-, two-, three- and four bedroom apartment units, 33 North’s interior features will include queen-sized pillow-top beds, granite countertops, stainless steel appliances, and a furniture package sporting 50-inch flat-screen TVs in the living areas. Among the property’s common amenities are a clubhouse, study room, fitness center, an infinity pool and an outdoor entertainment deck.

33 North will be a fully furnished property, with utilities, high-speed broadband and extended cable TV included. The five-story development will also provide an internal parking garage. Architecture Demarest designed the facilities, with KWA Builders providing construction services.

Dallas-based Fountain has been quite active in its home market recently, with two other projects under way in the Dallas-Fort Worth area. The Vue on University Drive at Texas Christian University, which is being constructed by Centerpoint Builders, is 100 percent pre-leased with a waiting list for its summer 2012 opening. LoftVue, a second development serving the TCU market, is a 147-bed loft-style luxury development that will begin construction in July.

Fountain was formed by student housing industry veterans Brent Little, Jonathan Clayton and Trevor Tollett, in partnership with Commodore Student Housing LLC Commodore is a subsidiary of the family investment office of Carl Westcott. Crosswind Development was founded by Doug Huffman to build, own and manage multifamily assets, primarily in Texas.