DALLAS, TX - Balfour Beatty Campus Solutions, a leading developer and operator of infrastructure projects for the college and university market, announced today it is has reached financial close on a $54M project to design, build, finance and operate an on-campus mixed-use housing and retail development for The University of Texas at Dallas through a public/private partnership.
The University town center concept is being developed in partnership with Dallas-based residential and commercial developer Wynne/Jackson. Balfour Beatty Construction, also Dallas-based, will lead the overall design/build team, featuring Jacobs Engineering and Architecture Demarest as the design subcontractors.
The new community will include mid-rise apartments and townhomes that will add approximately 600 beds, as well as shops, restaurants and entertainment venues to serve the more than 30,000 students, faculty, staff and young professionals of the University and the greater Richardson, Texas area. The project will be located on a 13 acre tract of land located north and west of the intersection of Synergy Park Boulevard and Floyd Road, adjacent to the proposed site of a future DART rail station.
“Northside at UT Dallas is essential to support the tremendous growth our campus has experienced. Over the past seven years, our enrollment has increased from 14,500 to more than 23,000 students,” said Dr. Calvin D. Jamison, vice president for administration at UT Dallas. “This is the natural next phase of enhancing the University experience for our campus community.”
The project will break ground in the coming weeks and will be delivered in August of 2016 in preparation for the 2016/2017 academic year. Upon completion, the housing will be operated by Balfour Beatty Communities, and SRS Real Estate Partners will market the retail space.
“We are delighted to commence this important project for The University of Texas at Dallas,” said Bob Shepko, president of Balfour Beatty Campus Solutions. “We look forward to working with the University, Wynne/Jackson and our other partners to deliver a vibrant community that will enhance the campus experience for students, faculty and visitors.”
Source: Balfour Beatty Communities / #Apartments #Multifamily