Three New Student Housing Complexes to Open Near N.C. State University
- Mar 30, 2012
by Adriana Pop, Associate Editor
Construction of three new luxury student complexes is underway near North Carolina State University in Raleigh, N.C.
Slated to open simultaneously this summer, the three developments will offer a total of 1,770 off-campus bedrooms, the NewsObserver reports. In spite of the growing concern over the cost of higher education, experienced student housing developers continue to see opportunities in the region.
Developed by the Preiss Co., University Village at 2505 is the smallest of the three projects. The community will be located at 2505 Red Lodge Place near Centennial Campus and will offer 72 four-bedroom, garden-style apartments with state-of-the-art finishes. University Village will rent bedrooms for $520 a month, the newspaper reports.
Just off Hillsborough Street, Landmark Properties of Athens, Ga. develops the Retreat at Raleigh. The 554-bedroom gated community will feature 149 cottages, a 9,000-square-foot clubhouse with plasma TVs, a large pool, free tanning beds, a poolside grilling station, a fitness center, a pet spa and a golf simulator. On average, bedrooms will rent for $600 a month.
Valentine Commons, a 10-story, 928-bedroom apartment complex, is the closest to North Carolina State’s campus and the most expensive of the three projects. The building will be situated off Hillsborough Street near the intersection with Dixie Trail. The community, developed by Capstone Properties of Birmingham, Ala., will offer a 24-hour fitness center, tanning beds and two lounges on each floor. Rent will start at $645 and will not include a space in the project’s parking deck.
At the moment, University Village at 2505, the Retreat at Raleigh and Valentine Commons are striving to finish construction and get the complexes fully leased by the start of the fall semester. North Carolina State University students are the main target renters, although developers hope the new facilities will also attract students at Meredith College, William Peace University and other nearby universities.