Fountain Residential Partners Developing Boutique Student Housing Community Serving Louisiana State University
21 Oct, 2021, 19:22 ET
BATON ROUGE, La., Oct. 21, 2021 /PRNewswire/ -- Dallas-based Fountain Residential Partners announces the commencement of construction of The Vue on Parker, a 294-bed student housing community in Baton Rouge serving the Louisiana State University market. Located at 300 W. Parker, the project will provide 132 luxury apartment homes in a boutique community setting serving the accelerating LSU housing marketplace.
The 2021 overall enrollment at LSU is at an all-time high of 35,914 students with the freshman class setting records for size, diversity and accomplishment. No purpose-built, off-campus student housing has been constructed since 2018 and The Vue on Parker is the only development in the construction pipeline, which will make it the most recent and updated student community in the market by 5 years when completed in the Fall of 2023.
The Vue on Parker will offer a unique unit mix of studio and five-bedroom apartments homes, all with bed/bath/closet suites, which have been the best performing apartment types in the marketplace. Community features include a pool area, clubhouse, 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, 60-inch flat screen WiFi enabled TVs, stainless steel appliances, full-sized washer and dryers, and an on-site structured parking garage. Undoubtedly, the best amenities the community has to offer are the walk-to-campus location, the high visibility along a major arterial road, and its direct adjacency to Touchdown Village, the primary tailgating venue for LSU Tiger football games.
Trevor Tollett, Executive Vice President of Fountain Residential, says, "What attracted us to this opportunity was the site location and layout. This is a unique, triangular site that is bounded on all sides by public streets that offers the opportunity to design a flatiron building. This is what we refer to a 'fall out of bed' location for LSU. We have followed the LSU market for over a decade and felt the timing of delivery such a unique community in Fall 2023 will coincide with the market hitting peak performance."
Fountain Residential Partners partially raised capital utilizing a crowdfunding platform via CrowdStreet, Inc. This was the third such capital raise partnering with CrowdStreet. First United Bank and Trust is the construction lender.
The Vue on Parker was designed by Stuart Roosth Architects and local civil engineering firm Duplantis Design Group. Fountain Residential Partners is continuing their longstanding relationship with MW Builders as General Contractor and construction is expected to be completed before the start of the Fall 2023 school year, with leasing to commence in the third quarter of 2022.
About Fountain Residential Partners:
Fountain Residential Partners is a privately held development and asset management company specializing in luxury, mixed-use, and affordable apartment homes in university and collegiate markets across the United States. Specializing in student housing since 2000, the principals of Fountain Residential have completed over $2 Billion in new student housing construction across the country.
Trevor C. Tollett – Executive Vice President
Fountain Residential Partners, LLC
2626 Cole Avenue, Suite 620
Dallas, Texas 75204
Phone: (972) 861-5080
Renderings and graphics are available upon request.
SOURCE Fountain Residential Partners
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