Fountain Residential Partners Developing Best In Class Student Housing Project at the University of Texas in Arlington in a New Joint Venture with HC2 Capital, LLC

The University of Texas – Arlington attracted the attention of the award-winning national development firm due to its Tier One research designation, incredible growth, diversity of student population, and nationally recognized quality education. The new community will be constructed near the on-campus Centennial Court apartment, across from UTA's Administration Building, and directly adjacent to Doug Russell Park.

The 5.1-acre property will consist of 687 bedrooms including one-, two-, three-, four-, and five-bedroom apartments and townhouses, along with a resort-style pool area, an expansive 9,000 SF clubhouse with strength training and cardio center, and multiple private study rooms.  Each fully furnished apartment home will feature condo-like finishes including wood-look flooring, granite countertops, queen sized pillow-top beds, 50-inch flat screen TVs, stainless steel appliances and full-sized washer and dryers.

Brent Little, President of Fountain Residential, says, "We have designed the next generation of housing for the students of UTA in the heart of campus with convenient access to both retail and restaurants along Cooper Street. With over 5 acres of land in a wooded area, we are able to create a great residential feel in the heart of the city. This also afforded us the chance to build spacious townhome units, which will be unique to this market, and to offer larger, better amenitized public spaces."

Within walking distance to the University of Texas-Arlington campus, 8FOUR8 Mitchell is aimed at the University's steadily increasing enrollment, which has been bolstered by becoming a Tier One Research, and their commitment to becoming a true global leader in education.  Jim Crigler of HC2 Capital says, "We are excited about our first venture with Fountain Residential Partners.  We've known the team there for a long time and we are happy to find a project to work on together. 8FOUR8 Mitchell is the perfect opportunity to provide a superior housing option for The University of Texas - Arlington students while making an investment in the community that we believe will have a positive impact on the University and the local community."

As part of the pre-development of development, Fountain worked closely with community stakeholders, the local home and business owners, the City of Arlington Planning Department, City Council members, and mayor Jeff Williams.

8FOUR8 Mitchell was designed by Stuart Roosth Architects and is being constructed by Temple, TX-based MW Builders, Inc., and will be completed before the Fall 2019 school year.

About Fountain Residential Partners:

Fountain Residential Partners, LLC is a privately held Dallas-based multifamily real estate development, acquisition, and asset management company specializing in the student housing asset class.  Together with the Carl Westcott Family, Fountain Residential was founded by principals Brent Little, Jon Clayton, and Trevor Tollett, all seasoned real estate professionals that have a combined experience of over 50 years in the industry.  Specializing in student housing since 2000, the principals of Fountain Residential have completed well over $2 Billion in new student housing construction across the country.

About HC2 Capital:

HC2 Capital (HC2) is a real estate private equity firm located in Dallas, Texas. HC2 invests in a variety of product types with a primary focus on housing – apartments, senior living, and student housing.  HC2 places the highest priority on preservation of capital and alignment of interests while applying its proven analytical process to fully understand the path to value creation.

Contact Information:
Jonathan Clayton, Executive Vice President
Fountain Residential Partners, LLC
2626 Cole Avenue, Suite 620
Dallas, Texas 75204
Phone:  (972) 861-5080
Website: www.fountainresidential.com 
[email protected]  

SOURCE Fountain Residential Partners

Related Links

http://www.fountainresidential.com