Fountain Residential Scores $23M Financing for Student Housing Project
- Jan 07, 2021
Fountain Residential Partners has received $23 million in joint venture equity for the development of Dockside Clemson, a 630-unit student housing project in Clemson, S.C. JLL Capital Markets arranged the financing through CrowdStreet.
The lakefront community will comprise studio, one-, two-, three- and four-bedroom units, with private bathrooms, high-speed internet and walk-in closets. Planned amenities include a fitness center, swimming pool, tech lounge and dock access. The 200-unit project will also feature 22,000 square feet of ground-floor retail.
Located along Tiger Boulevard and Lake Hartwell, the site is 1 mile from Clemson University. Oconee County Regional Airport is within 7 miles of the project.
The development team includes Stuart Roosth Architects, Looney Ricks Kiss and Kimley-Horn. Sherman Construction is the general contractor. Completion is scheduled for 2022.
The JLL Capital Markets team included Managing Director Jeremy Sain, along with Directors Teddy Leatherman, Scott Clifton, Stewart Hayes and John Gavigan. In April 2020, Sain arranged a floating-rate construction loan for the first multifamily portion of a mixed-use development in Waco, Texas.