Fountain Residential Partners, in a partnership with BAM Capital, has begun construction of the first phase of The Vue on University, a 271-unit student housing community in Charlotte, N.C.
The property will serve students at the University of North Carolina Charlotte. This comes after a joint venture between Fountain Residential Partners and HC2 Capital broke ground on a 150-unit housing community in Sunderland, Mass.
Located at the corner of University City Boulevard and East Mallard Creek Church Road, the community will sit on approximately 11.2 acres and is set to feature a mix of one-, two-, three- and four-bedroom units.
The Vue on University will feature 1,400 beds and will include common-area amenities such as a swimming pool, a 6,000-square-foot clubhouse with strength training and cardio center, study rooms and in-unit amenities including wood-like flooring, granite countertops, 50-inch flat screen TVs, stainless steel appliances and full-sized washers and dryers.
Stuart Roosth Architects and Kimley-Horn Associates designed the project, while Kansas City-based MW Builders Inc. developed it. The Vue on University is scheduled for completion by the Fall 2021 school year. JLL’s Jeremy Sain and Teddy Leatherman were involved in the equity capital raising efforts.