Akron’s Newest Luxury Student Housing Community to Open in August
- Apr 19, 2014
In May 2013, the Cleveland-based NRP Group, one of the largest multifamily developers in the nation, started work on a 624-bed, four-story luxury student housing community in Akron. Called the Depot, the project is now nearing completion. It is scheduled to open for residents this August.
The Depot is located at 80 East Exchange St., just across the street from the campus of the University of Akron. It offers 624 one-, two-, three- and four-bedroom units, as well as a host of amenities including a resort-style heated pool, lounge areas, an on-site concierge, a modern clubroom, an on-site mini market, an indoor gas fireplace, a game room, a media lab, a conference room, group study areas, a large group fitness classroom and two state-of-the-art fitness facilities.
Units range in size from 592 to 1,386 square feet. They come equipped with granite countertops, in-unit washer and dryer, walk-in closets, contemporary furnishings and a 42-inch flat screen television. The units are all leased by-the-bed. This means each resident will only be responsible for his or her individual rent.
The Depot is managed by Asset Campus Housing, a leader in the management and development of student housing facilities nationwide. The Houston-based company is also in charge of finding residents. Leasing started last August, and since then the Depot has generated significant interest. The one-bedroom units are completely sold out.
The NRP Group is developing the Depot on the site of the old Akron Beacon Journal newspaper storage and sorting facility. It invested $30 million in the project. Together with other important projects, such as the $200 million expansion of the Akron Children’s Hospital campus, it has significantly improved downtown Akron.
Aaron Pechota, vice president of development at The NRP Group, gave assurances that the new community will open on time. “We look forward to welcoming The Depot residents into their new home come August,” he added.
Photo credit: The Depot