Campus Acquisitions Gearing Up for Tucson Development
- Oct 11, 2012
Tucson, Ariz.—Chicago-based Campus Acquisitions has hired Beal-Derkenne Construction to build Park Avenue, a student housing project bordering the University of Arizona-Tucson. The property will have 166 units with 386 beds all together.
Previously, Campus Acquisitions started work on 1020 Tyndall, a 14-story, 586-bed student-housing community, with full occupancy slated for August 2013. The company anticipates that Park Avenue, which is next to the Tyndall project, will start next year for a 2014 delivery.
Campus Acquisitions is focused solely on investments in education-related real estate, including student housing—acquisitions, redevelopments, and new developments—and other “campus-related” real estate. The company has developed over 4,000 new bedrooms and acquired another 2,000 in the recent years.
Besides the U of A projects, Campus Acquisitions is currently at work on developments near the University of Michigan, the University of California and the University of Southern California, Perdue and Texas A&M, among others. It also has plans for a property near the University of Illinois.
The company anticipates significant growth in the student-housing realm as the U.S. student population expands over the current decade. The National Center for Education Statistics estimates that college enrollment will increase by a net of about 2.3 million students by 2020.