Charlotte, N.C.—Work has started on Circle University City, a student housing property that will open in time for the fall 2014 semester. The development will be within walking distance of UNC Charlotte.
The property’s location opposite the campus’ main entry on University City Blvd. makes it the closest off-campus housing option, according to the developer, Crescent Resources. Circle University City’s 187 units comprise of 546 beds in configurations of one-, two- and four-bedrooms.
Amenities include individual study areas with iMacs and printers, a group study room with SmartBoard and a media room. An on-site fitness center features a yoga/barre studio, and an outdoor lawn area has been designated as a quiet space. There’s also a game room, outdoor roof deck, pool and stand-up tanning bed.
The development is being financed by equity from Crescent Resources, with a construction loan from Regions Bank. Working on the project are development partner Carbon Properties, architect BB+M Architecture, interior designer Vignette Interior Design, civil engineer and landscape architect LandDesign, general contractor Adolfson & Peterson Construction, and property manager Greystar.
UNC Charlotte is in need of more housing. Total enrollment topped 26,000 at the beginning of the 2012 fall semester, with the freshman class of more than 3,500 coming in larger than anticipated, according to university officials. The incoming class was the result of an uptick of about 11 percent in undergraduate applications compared with the previous year. Transfer applications were up year-over-year as well.
Moreover, total enrollment is expected to grow in the coming years, partly because of demographic trends, but also because some students stay in school longer than they might otherwise because of poor job prospects. The school has been actively recruiting students from other states in recent years as well.