University of Houston expands student housing
Monday, June 3, 2013
|Dallas-based Fountain Residential Partners is building The Vue on MacGregor, a five-story building with 347 beds just across from the University of Houston campus. (5G Studio Collaborative courtesy rendering)|
University of Houston students will have another housing option in the fall of 2014.
Dallas-based Fountain Residential Partners is building The Vue on MacGregor, a five-story building with 347 beds just across from the campus. It will be the first privately owned off campus community, the company said.
The new apartment property will be at Calhoun Road and South MacGregor Way directly across Brays Bayou from the Bayou Oaks housing community on the University of Houston campus.
Fountain Residential Partners will build, own and operate the property. It differs from other projects in which the university owns the land and leases it to a campus housing firm.
The company has been eyeing the site for five or six years and believes the timing is right to expand in Houston. Two apartment complexes and a service station will be torn down to make way for the project.
“It shows up on the national radar,” said Brent Little, president of Fountain Residential Partners. “It’s a 41,000-student Tier One research institution. You look at the amount of new construction, the athletics, the education, all of it is hitting the national radar.”
The university began a push to expand student housing options with the addition of the seven-floor Cougar Village in 2010. That was part of a plan to transform the school from an urban commuter-based campus to a Tier One research institution with space to house 25 percent of the students on campus.
Two other projects are slated to open on campus this fall: Cougar Place Apartments, with 800 beds at 3800 Cullen; and Cougar Village II consisting of 1,144 beds at 4873 Wheeler.
Rates at The Vue on MacGregor have not yet been set, but students will lease it by the bedroom and share common spaces, Little said. It will cover furnishings, high-speed Internet, 50-inch flat-screen televisions and queen-size pillow-top mattresses.
“Everything is all-inclusive so you only have one payment to make,” Little said.
Dallas architecture firm 5G Studio Collaborative designed the property and Dallas-based Centerpoint Builders will be the general contractor. Dallas-based Grand Campus Living will provide leasing and management services.
Fountain Residential Partners also announced two other projects across from the University of Texas-San Antonio and the University of Minnesota–Twin Cities.
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