Inland American Breaks Ground On Student Housing

Inland American Breaks Ground On Student Housing

OAK BROOK, IL - Inland American Communities Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc., announced that University House Fullerton, a 388,000-square-foot mixed-use, green point-rated development with retail space, is underway in Fullerton, Calif. University House Fullerton is scheduled to open in the summer of 2013 for California State University at Fullerton (CSUF) students.

“We are thrilled to create a one-of-a-kind housing community one block south of CSUF,” said John Allums, Executive Vice President of Inland American Communities. “This project is ideally located; bringing much needed off-campus residential housing and 30,000 square feet of main street retail space to serve the university’s 35,000 students.”

University House Fullerton’s plans include 358,000 square feet of residential space consisting of 350 apartment units and 1,189 beds spread out over a four-story building complete with balconies and a seven-story wrapped garage with more than 1,400 parking spaces. The main level will feature retail, dining and entertainment.

“The retail space will benefit from the 24/7 influx of students living in the community,” said Douglas Leeds, leasing director for Inland American Retail Management LLC. “There will also be approximately 125 parking spaces specifically allocated to customers wanting easy access to the restaurants and shops.”

The retail will be managed by Inland American Retail Management, and retail leasing efforts will be led by Vanguard Commercial. University House Fullerton will be located at 555 N. Commonwealth Ave., Fullerton, Calif.

Inland American Communities Group, Inc. is a development, acquisition and management organization dedicated to the creation of authentic communities in urban-infill and university markets across the United States. Inland American Communities was formed in 2007 as a wholly-owned subsidiary of Inland American Real Estate Trust, Inc. The company is headquartered in Dallas, Texas, with additional corporate offices in Atlanta, Georgia and Tempe, Arizona.

Inland American Real Estate Trust, Inc. focuses on acquiring and developing a diversified portfolio of commercial real estate including retail, multi-family, industrial, lodging, office and student housing properties, located in the United States and Canada. The company also invests in joint ventures, development projects, real estate loans and marketable securities. As of June 30, 2011 Inland American owned, directly or indirectly through joint ventures in which it has a controlling interest, 981 properties, representing approximately 48 million square feet of retail, industrial and office properties, 9,790 multi-family units and 15,564 lodging rooms. Inland American is one of five REITs that are, or have been, sponsored by affiliates of The Inland Real Estate Group of Companies, Inc.

Source: Inland American Real Estate Trust

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.