Housing Close Enough to Walk to Class
- May 01, 2015
Austin, Texas—A new, 632-bed student housing community with a pedestrian-to-campus orientation is under construction near the University of Nebraska in Lincoln. The project was announced by real estate private equity firm Virtus Real Estate Capital, in conjunction with student housing development and management company Aspen Heights. Completion is slated for August 2016.
Aspen Heights Lincoln is designed to leverage the growing demand for additional student housing at the university, which surpassed 25,000 students in the fall of 2014 and has plans to grow in student population to more than 30,000. The project will be a high-density housing community offering best-in-class amenities and ability for student residents to walk from housing to classes.
“Once completed, Aspen Heights Lincoln property will be the premier pedestrian student housing project in the University of Nebraska off-campus housing market,” said Virtus Real Estate Capital acquisitions director Kevin White.
“We’re excited to partner with Aspen Heights on this project that we believe is an exceptional opportunity to build 632 beds within walking distance to an outstanding university.”
Added Aspen Heights founder and CEO Greg Henry: “Aspen Heights is thrilled to extend our partnership with Virtus, and to present our signature student housing experience to the University of Nebraska community. The project we are building will combine industry leading amenities, high-quality finish outs and the best location to meet the increasing student demand.”
The nine-year-old, Austin, Texas-based Aspen Heights develops and manages student housing properties across the United States that are known for offering the convenience and amenities of luxury apartment communities. Twelve-year-old Virtus Real Estate Capital, which is also Austin based, teamed with Aspen Heights last fall in their maiden partnership to develop a 684-bed, cottage-style student housing community situated near the University of Oklahoma.
That project is on track for a fall opening. It is 99 percent pre-leased.