MRES to Manage 262-Unit Student Housing Community
The 920-bed community features approximately 6,700 square feet of retail space. This assignment marks the second for MRES’s new student housing division, which the company launched earlier this month.
By Adina Marcut
Monument Real Estate Services has been awarded management of 48West, a 262-unit student housing community located in Allendale, Mich. This is the second student housing property in the company’s portfolio and the first in the Michigan market.
The 27 three-story buildings feature one-, two- and four-bedroom units ranging in size from 725 to 1,716 square feet. 48west offers common area amenities such as:
- outdoor pool and hot tub
- 24-hour fitness center
- computer and study center
- game room
- on-site restaurants
The pet-friendly development is located at 10897 48th Ave. and provides 920 beds, serving students at Grand Valley State University. According to data provider Yardi Matrix, the average rental rate was $ 1,910 as of September. Additionally, the development features approximately 6,700 square feet of retail space. 48west offers convenient access to The Meadows Park, Recreation Center Grand Valley State University, Family Fare Supermarket and other.
“This student living community provides an exciting opportunity to not only enhance the resident experience, but to also work throughout the community to provide them with the best amenities,” Lisa Davis, regional manager of MRES said in a statement. “Our goal for 48West is to transform it into the premier student living community in the Allendale area.”
Image courtesy of Yardi Matrix