Mallory & Evans Brings Student Housing to SC, AL
The company is adding Bellamy Coastal and Bellamy Florence to its luxury student housing brand. Totaling $56 million, the two communities are scheduled for completion by fall 2018.
By IvyLee Rosario
Mallory & Evans Development began construction on two new additions to its Bellamy luxury student housing brand: Bellamy Coastal in Conway, S.C., and Bellamy Florence in Florence, Ala. With a combined value of $56 million, the communities cater to students of Coastal Carolina University and the University of North Alabama, respectively. Caliber Living will lease and manage both communities. Both projects are scheduled for completion by fall of 2018.
“We don’t make assumptions when it comes to markets. We extensively study all the different dynamics to help us make calculated product and design decisions,” Brantley Basinger, principal of Mallory & Evans, told Multi-Housing News. “This information fuels where we begin that process and ultimately the finished product, hopefully with a full community and happy student residents.”
Luxury Student Living
The $32 million Bellamy Coastal will offer 480 beds and the $24 million Bellamy Florence will offer 420 beds. Both communities will be gated and feature fully furnished interiors with private bedrooms and bathrooms, 60-inch flat-screen televisions, study areas, community Wi-Fi and on-site management and maintenance. The communities will also feature access to common green space and nearby trails, as well as the use of smart home technology including access to thermostats, security systems and locks via mobile devices and the inclusion of Amazon’s Alexa.
Students will have access to amenities such as:
- fire pits
- tanning beds
- covered outdoor patios with televisions
- a sundeck
- a clubhouse
- 24-hour fitness center
- resort-style pool
There will be one parking spot reserved per resident, with the addition of visitors spaces, as well as bicycle storage for those without cars. Bellamy Coastal will be located right next to Coastal Carolina University’s campus, while Bellamy Florence will connect through the University of North Alabama’s student transportation system.
“We’re excited about our strategy and pipeline for the coming years. We continue to recognize the growing demand to fill a void at growing non-flagship colleges and universities,” added Basinger. “These two new developments along with our existing owned assets continue to grow our portfolio and make it more geographically diverse.”
Another South Carolina student housing community coming online includes Armada Hoffler Properties’ development of two $100 million student housing apartments in Charleston.
Images courtesy of Mallory & Evans Development