Fountain Residential Partners Break Ground On Luxury Student Housing at The University of North Texas
DALLAS, May 31, 2012 /PRNewswire/ -- Fountain Residential Partners, in association with Crosswind Development Partners, has broken ground on the most luxurious student housing in the Denton market directly adjacent to The University of North Texas. 33 North, a 139 unit/427 bed student-oriented development, will begin leasing soon for a Fall 2013 semester occupancy.
Fountain has quietly become one of the most active multifamily developers in the Dallas-Fort Worth area with two projects already under construction. The Vue on University Drive at Texas Christian University, being constructed by Centerpoint Builders, is already 100% pre-leased with a waiting list for its summer 2012 opening. LoftVue, a second development serving the TCU market, is a 147-bed loft-style luxury development that will begin construction in July of 2012.
UNT's 33 North project is located on Eagle Drive across the street from the Greek village and university parking. The 5-story development will provide excellent views of campus and controlled parking will be provided in an internal parking garage. 33 North will be a fully furnished community with utilities, high speed broadband and wireless internet, and extended cable TV included.
Comprised of one, two, three, and four bedroom apartment homes, custom interior features will include queen sized pillow-top beds, granite countertops, stainless steel appliances, simulated wood flooring, and a premium furniture package including 50" flatscreen televisions in the living areas. Complete with an exclusive feel, 33 North amenities will include a plush urban clubhouse, study room, modern cardio theater fitness center, onsite leasing office, and an infinity pool and outdoor entertainment deck.
Brent Little, President at Fountain Residential Partners, notes, "a walk to class location in the heart of the Greek housing area will help propel 33 North to be the premier student housing community for a school seeking Tier 1 Status and a student body that expects to increase to 45,000 students over the coming years. By providing a higher level of finishes, amenities, and services, at a competitive market price, we expect 33 North to reset the bar on student living at the University of North Texas, as we have in the TCU market."
Fountain Residential Partners also has a 309-bed student housing project under construction in Corvallis, Oregon, just three blocks from Oregon State University that plans to open in the fall 2012. The firm has a robust development pipeline with properties under contract in both Minneapolis, Minnesota, directly adjacent to the University of Minnesota – Twin Cities Campus, as well sites at as Sacramento State University and the University of Houston. These properties are planned for high density collegiate-oriented housing with transit-oriented design in walk to campus locations.
Fountain Residential Partners is a Dallas, Texas-based multifamily real estate development, acquisition, and asset management company formed by student housing industry veterans Brent Little, Jonathan Clayton, Trevor Tollett, in partnership with Commodore Student Housing, LLC. Commodore is a subsidiary of the family investment office of Carl Westcott. Crosswind Development was founded by Doug Huffman to build, own and manage multifamily assets primarily in the State of Texas.
Architecture Demarest designed the facilities with KWA Builders providing construction services.
SOURCE Fountain Residential Partners
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May 31, 2013, 15:32 ET
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