Morrison Lands Financing for Georgia Student Project
The 222-bed project is set to come online before the 2027 academic year.
Morrison Avenue Capital Partners has obtained construction financing for Hilltop Athens, a 222-bed student housing project in Athens, Ga. The community is already underway and is set to come online ahead of the fall 2027 school year.
Renasant Bank provided the debt. Partners on the project include general contractor Cloverleaf Construction, along with CollegeTown Properties, set to manage the residence hall.
The project is rising at 218 N. Ave., within 1 mile of the University of Georgia at Athens campus and the city center.
READ ALSO: Student Housing Development Trends
The unit mix consists of one- to four-bedroom floorplans. Apartments have in-unit washers and dryers and private outdoor space. Common-area amenities are set to include a clubhouse, fitness center, swimming pool and grilling pavilion.
The company has another Hilltop-branded student housing project underway. Dubbed Hilltop Auburn, the development recently topped out and is set to come online before the next academic year starts.
University of Georgia’s growing student footprint
The University of Georgia’s total enrollment reached 43,888 students for the current school year, up 1.7 percent compared to the previous academic year. The institution was 72 percent preleased as of March, according to a Yardi Matrix student housing report, marking a 2 percent year-over-year decline.
The school had 15,474 beds completed during the same month, with another 1,225 underway. One of the projects under construction is CCI Real Estate’s 290 South Lumpkin. The community will total 350 beds upon completion, which is scheduled for next year.
