Aspen Heights Expands Student Housing Portfolio
- Aug 21, 2020
Aspen Heights Partners has started construction on an off-campus student housing community a mile away from Washington State University in Pullman, Wash. The developer is expecting to complete the project, named Aspen Heights Pullman, in fall 2021.
Located at 3125 N.W. Cottonwood Lane, the property will offer 752 beds in duplex units of two-, three-, four- and five-bedroom floorplans. The units have private bathrooms in each bedroom, a powder bathroom in the living room and washer and dryers, with some units offering walk-in closets. Residents will get access to a community building, hot tub, fitness center and on-site shuttle to campus.
Greg Henry, founder & CEO of Aspen Heights, said in prepared remarks that the company is one of the first developers to do the cottage concept for student housing that focuses on color, spacious homes with a signature front porch swing.
PROVIDING OFF-CAMPUS HOUSING
Being located so close to the university, Aspen Heights and its student housing community will likely benefit from the enrollment growth from Washington State University. The college currently has more than 18,000 undergraduate students and more than 2,600 graduate and professional students. Washington State University is also working on expanding its Pullman campus, including the 65,000-square-foot addition to one of its academic buildings. While the university has 27 on-campus housing facilities, there are some students who aren’t part of the 84 percent of new freshmen who live on campus, according to the university’s numbers.
Todd Gaines, division president at Aspen Heights, said in prepared remarks that the growing enrollment in Washington State University means a need for new housing options for students looking to live off-campus. Outside Washington state, Aspen Heights has developed other student housing ventures in many other states in the South, Midwest, Northeast, and Southeast. In January 2019, Aspen Heights and Virtus Real Estate Capital sold a 182-unit off-campus student housing community in Lincoln, Neb.