American Nevada Co. and The Vista Group Join with Place Properties to Develop Student Housing
- Jan 09, 2008
By Matthew Marin, Associate EditorHenderson, Nev.–American Nevada Co. and The Vista Group, both real estate developers, have formed a joint venture with Atlanta-based Place Properties, a nationwide multifamily developer, to develop Midtown Place, the first major student-housing complex serving UNLV students in Henderson, Nev.The project, located at Maryland Parkway and Cottage Grove adjacent to the UNLV campus, will be the first off-campus, student-housing complex for UNLV. It is also situated where University Park Apartments currently stands. Upon completion, the project will encompass approximately 3,000 suites designed for the UNLV student of the 21st century, including a fitness center with personal TV monitors on all cardio equipment, a cyber-lounge for study and recreation, tanning domes, and the resort-style pool with poolside cabanas and outdoor dining area. Designed by Dallas-based Humphreys and Partners Architects LP, all apartments include designer furnishings, full-size washer/dryer, local phone, high speed Internet ports in every bedroom, cable TV and utilities in the low “one price for all” rent structure. The mixed-use property will also include neighborhood retail to serve the student clientele with outdoor seating and bistro-style dining with convenient parking. “We are pleased to be part of this great project with our partners, The Vista Group and Place Properties,” says Bruce Deifik, president and CEO of American Nevada Co. “This development will provide much-needed housing and a quality lifestyle for UNLV students.”Midtown Place will be a major part of the continuation of the Midtown UNLV development, a public-private partnership to create a vibrant university district. Midtown UNLV will revitalize the Maryland Parkway corridor that serves as the “front door” to the University of Nevada–Las Vegas. The revitalization will include retail, housing, mass transit, entertainment venues and educational opportunities. “Midtown Place will stand at the northern gateway to Midtown UNLV,” says Michael Saltman, president of The Vista Group. “This substantial student housing project, combined with future shopping, dining, entertainment and other resources will help make Midtown UNLV the premier student lifestyle locale in the country.”Upon completion, the Midtown Place complex will be the largest off-campus student housing development in the country. Currently, UNLV has the lowest percentage of on-campus housing for a university or college of its size in the U.S. Additionally, there are no dedicated student housing offerings off-campus due to the nature of UNLV’s location near McCarran International Airport, the Las Vegas Strip, and dense urban development. Place Properties will operate Midtown Place.