Off-Campus Student Housing to Open in LA
The new student housing will mark The Annex Group’s first development in the state of Louisiana. Upon completion, the community will serve Louisiana Tech University.
The Annex Group has closed an $18 million loan for The Annex of Ruston, a 118-unit off-campus student housing development in Ruston, La. The company worked with the City of Ruston, KTGY Architecture and HGA Engineering to develop the property. KeyBank secured the financing for the project.
Located at 509 W. Line Ave., close to Louisiana Tech’s new Integrated Engineering and Science building, the community serves students attending Louisiana Tech University, situated 1.1 miles away. Various shopping, dining and entertainment venues including Walmart Neighborhood Market, Walgreens, Howard Center for the Performing Arts, Joe Aillet Stadium and J.C. Love Field are nearby.
Upon completion in 2020, The Annex of Ruston will feature 324 beds and will include common-area amenities such as a swimming pool, fitness center, study lounges and secure parking, among others.
“This new development will be our first in the state of Louisiana and we’re excited to bring this community to the City of Ruston,” said Kyle Bach, CEO of The Annex group, in a prepared statement.
KTGY Architecture recently designed The Ellis, a 549-unit luxury community in Charlotte, N.C.
Image cautery of The Annex Group