posted on June 11, 2010 00:43
American Campus Communities Inc. has started development of a new apartment complex serving the students at the University of Texas at San Antonio.
The off-campus project will consist of 14 residential buildings with 792 private bedroom and bathroom configurations in a townhouse format. The complex will have an 8,000 square-foot community center with a gym, student lounge, game room, computer lab, covered patio and resort-style swimming pool. The $35.4 million development should open by the fall 2011 semester. The complex is being built adjacent to the UTSA main campus in Northwest San Antonio.
Austin-based American Campus Communities (NYSE: ACC) is one of the nation’s largest developers, owners and managers of student housing properties. The company is a real estate investment trust that owns 84 student housing properties with 51,600 beds. The company also owns a minority interest in 16 joint ventures containing 9,800 beds.
The University of Texas at San Antonio, with 29,000 students enrolled in 134 undergraduate and graduate degree programs, is the second-largest component in The University of Texas System. The school has been one of the state’s fastest-growing public universities for much of the last decade.
June 8th, 2010 | San Antonio Business Journal