Rael Development Kicks Off Georgia Student Housing Project
The 694-bed community will come online before next fall.
Rael Development Corp. has started construction on Charme on Georgia Ave., a 291-unit, 694-bed student housing project in Statesboro, Ga. Scheduled to come online before next fall, the community will serve Georgia Southern University.
Partners on the development include general contractor Broeren Russo Builders Inc., civil engineer Hussey Gay Bell, the City of Statesboro and GSU.
Upon completion, the six-story community will consist of studio, one-, two- and four-bedroom floorplans. The property is expected to feature a study/library, rooftop with swimming pool and amenities deck, a billiards room, a gaming area and multiple gathering and studying lounges, along with coworking space. Plans also call for a café and fitness center.
The development is taking shape near the GSU campus core at 162 Georgia Ave., on the 3-acre site of the recently demolished University Plaza, a 1965-completed building housing several retail and bar businesses. Statesboro Mall, the Statesboro Crossing retail center and downtown Statesboro are within 2 miles, while Statesboro Bulloch County Airport is 4 miles away.
Earlier this month, Scion Student Communities, a joint venture of The Scion Group, the General Investment Corporation of Singapore and the Canada Pension Plan Investment Board, obtained $380 million in refinancing for 11 student housing properties including Cambridge at Southern – The Pines, a 372-unit community less than a mile from Charme on Georgia Ave.
