Global City Development, together with RER Ventures and Podium Development, has opened leasing for fall 2020 at The One At University City, an 886-unit student housing community in Miami. Landmark Properties will manage the asset. Construction of the 1,244-bed property is being developed through a $231 million bond issued by University Bridge LLC, funded last year.
Located at 740 SW 109th Ave., the community serves students at Florida International University (FIU), situated across the street from the campus. Additionally, Florida’s Turnpike and the Dolphin Expressway are located nearby, offering direct access to Miami International Airport, Downtown Miami and Miami Beach. The One At University City features a mix of one-, two-, three- and four-bedroom units, as well as three- and four-bedroom townhouses ranging from 317 to 1,634 square feet. In-unit amenities include stainless steel appliances, living rooms with TVs, washers/dryers and private bathrooms.
Common-area amenities include a resort-style swimming pool, sundeck with daybeds and cabanas, fitness center, study spaces, outdoor video screen, barbecue grills, amenity deck with landscaped terrace and rooftop indoor sunset lounge.
The One At University City is scheduled to open in time for the 2020-2021 school year. The funding will provide roughly $50 million in scholarships in the next 30 years to FIU. In February, Global City Development, in a joint venture with Asia Capital Real Estate Management, launched construction on another Miami community, a 236-unit property.