JV Starts Work on Texas Student Housing Expansion
- Jul 26, 2019
Balfour Beatty Campus Solutions has closed on financing for the third phase of Northside, a student housing community serving the University of Texas at Dallas. The $38 million project in conjunction with developer Wynne/Jackson and equity partner Star America will add 370 beds to the property in Richardson, Texas, boosting the community’s total to 1,865 beds.
The project broke ground earlier this month and delivery is slated for July 2020 to accommodate students in time for the 2020-21 school year. New mid-rise apartments are being developed on a 5-acre lot adjacent to phase two. As with the first two phases, the apartments will be leased by Balfour Beatty Communities. Andres Construction is building the project, with Architecture Demarest serving as the lead design firm.
Wynne/Jackson and Balfour Beatty were tapped by the University of Texas to develop and own the mixed-use community at 3000 Northside Blvd., adjacent to campus. The partners completed the first phase, with approximately 600 beds, in 2016. They opened the second phase of Northside in August of last year, adding 900 beds.
The overall development includes retail amenities such as Delish Bubble Tea, Jimmy Johns and 7-Eleven. The University of Texas at Dallas enrolls more than 27,000 students.