Peak Campus Development Constructing Student Housing Near Arizona State U

Peak Campus Development is developing a 213-unit, 600-bed student apartment community in Tempe, Ariz., close by the Arizona State main campus.
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Tempe, Ariz.—Peak Campus Development is developing a 213-unit, 600-bed student apartment community in Tempe, Ariz., close by the Arizona State main campus.

“The project’s location, open site plan, unit alternatives/features/finishes, and abundant amenities stand to differentiate it in the Tempe market and have strong appeal with ASU students,” Jeff Githens, Peak Campus Development’s vice president of development, tells MHN. “The project is a perfect fit with our goal of developing Class A student apartments adjacent to or within blocks of major university campuses.”

The development will offer 15 unique unit plans, including two-story lofts, in five interconnected buildings that surround an active courtyard. All residential units will come fully furnished with high-end finishes, private bathrooms in every bedroom, walk-in closets, full-size washers and dryers, stainless steel appliances and granite countertops. Most units will also contain their own private balcony.

Indoor amenities include a two-level multi-purpose room, theater, golf simulator, kitchen, business center and a state-of-the art fitness center with rock climbing wall, yoga and spinning studios and fitness on demand. Outdoors, the large active courtyard will contain a resort style pool, hot tub, fire pit and ample seating and lounge areas.

ASU has one of the largest student enrollments in the country and has experienced strong historical enrollment growth. ASU currently houses less than 20 percent of its total enrollment on campus, which creates a significant demand from ASU students for off-campus apartments.

According to Githens, the company has devoted considerable time looking at opportunities in the Tempe market and this project had all it was looking for—an ideal location and a highly differentiated concept to serve the growing housing needs of one of the nation’s largest universities.

“The project is adjacent to the ASU campus and within a short walk of all of the main ASU facilities,” he says. “The project is also within a block of two light rail stations which can take residents to ASU’s downtown Phoenix campus and to the airport. The surrounding neighborhood contains a mix of retail and apartments which predominately serve the ASU community.”

The development will open its leasing center in fall 2014 and is being managed by Peak Campus Management. It should be ready for move-ins in August of 2015.