Joint Venture to Develop Two Student Housing Communities

Sterling University Housing and Specialized Real Estate Group have partnered to build two student housing developments in walking distance of the University of Arkansas in Fayetteville, Ark.

Fayetteville, Ark.—Sterling University Housing, a developer of off-campus student housing communities, and Specialized Real Estate Group, a Northwest Arkansas-based real estate firm, have partnered to build two student housing developments in walking distance of the University of Arkansas in Fayetteville, Ark.

The apartment communities, which will be located between the campus and the Dickson Street Entertainment District, will be designed to be pedestrian-friendly and will meet the goals of Fayetteville’s City Plan 2030. Both communities will offer one-, two- and four-bedroom units.

Sterling Fayetteville will seek Leed Silver certification.

“Sterling has a great reputation nationally for developing appealing, well-built and well-managed off-campus housing,” Jeremy Hudson, a partner in Specialized Real Estate Group, said in a press statement. “They have 60 years of experience and more LEED-certified projects than any other company in the industry, making them a great match for this project.”

Amenities will include a flat-screen TV in every room, a pool, study lounges and a social lounge that will include a game room, café and fitness center.

“We are excited to bring our product to the University of Arkansas students,” Brian Dinerstein, president of Sterling University Housing, tells MHN. “Sterling Razorback will be an environmentally progressive property located within walking distance of the University.”

Phase I construction is set to begin in the spring of 2012, and Phase II will open in time for the 2014-2015 academic year.