Gilbane Development Company Completes 4 New Student Housing Communities

PROVIDENCE, R.I., Oct. 2, 2020 /PRNewswire-PRWeb/ -- Gilbane Development Company has completed development of four new student housing projects, delivering over 3,000 beds of new development for students prior to the start of the fall semester at Towson University, Arizona State University, Oregon State University, and Kennesaw State University. Gilbane Development Company's new and existing student housing portfolio leased to 97% occupancy as of August 2020.

In addition, Gilbane Development was also selected as a trusted developer for over 2,500 on-campus beds and secured financing for over $300 million in new student housing developments throughout 2019 and 2020.

The completed student housing developments include:

• Altus – Towson, MD, where Gilbane Development delivered 720 beds of student housing just .3 mile from the Towson University campus as part of Towson Row, a $350 million mixed-use development with over 1 million SF of retail, hotel, residential, and office space in Towson, MD. Amenities include a clubroom, fitness center, computer lounge, study rooms, game room, and two elevated courtyards, which collectively include a swimming pool, grilling area, fire pit, bocce court, pet park, and more. Gilbane Development is also currently developing The York at Towson Row, scheduled for delivery in August 2021;
• Apollo - Tempe, AZ, a 943-bed purpose-built student housing and 64 units of market rate/workforce housing (Array on Apache), just 1,000 feet from Arizona State University's Tempe, Arizona campus. Array features 12,000 SF of retail and a structured parking garage along with best-in-market amenities including two unique pool areas: a rooftop swimming pool with panoramic views and a courtyard swimming pool. Additional amenities include a 25,000 SF rooftop amenity deck and sky lounge, a 6,000 SF open-air fitness center with cardio, full weights, and fitness/yoga center, outdoor courtyards with fire pits, cabanas, spa, central clubhouse, 24-hour study lounges, game rooms, and computer lab;
• Sierra – Corvallis, OR a 228-unit building abutting the southeast corner of Oregon State University's campus in Corvallis, Oregon. Amenities include a heated pool, clubhouse, fitness center, game room, group study rooms, structured parking, a garage and 3 courtyards. The property is also only a few blocks from Downtown Corvallis; and,
• Bixby – Kennesaw, GA, at Kennesaw State University (KSU) in Kennesaw, GA, 30 minutes north of Atlanta, which consists of 656 beds, a structured parking garage, and approximately 3,000 SF of retail. Bixby features a heated saltwater swimming pool and rooftop skydeck overlooking the KSU football stadium.

"We are proud of each of our many team members and project partners, from design to construction to property management and operations, who tirelessly worked together to bring these exciting projects from vision to reality for students, parents, and campuses around the country," said Russell Broderick, senior vice president of Gilbane Development Company.

About Gilbane Development Company
Gilbane Development Company is the project development, financing and ownership arm of Gilbane, Inc., a private holding company in its fifth generation of family ownership and management. Gilbane Development Company provides a full slate of real estate development and project management services. Completed projects incorporate every aspect of real estate including: student housing, multifamily, schools, affordable housing, mixed-used developments, corporate headquarters, healthcare facilities, operational | data | distribution centers, R&D | manufacturing facilities, residential communities, and many types of facilities delivered through public-private partnerships. Through its trademarked "Next Level of Student Housing®" program, Gilbane Development Company has completed or currently has in development over 16,000 beds of student housing. To learn more, visit http://www.gilbaneco.com/development or call 1-800-GILBANE.
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SOURCE Gilbane