KNOXVILLE, TN - Student housing developer/owner-operator Campus Advantage recently launched its newest project, The Knox, which will serve students attending the University of Tennessee, Knoxville in Fall 2016. Equity for the 101-unit, 382-bed community has been provided by Pinecrest Partners.
The Knox will feature three-, four- and five-bedroom apartments. Located at 1505 Clinch Avenue, this best-in-class location will put residents less than 100 feet from the University of Tennessee, Knoxville campus. Residents will enjoy an unusually short walk to class, whereas residents of many other student housing properties must travel more than two miles to campus.
After purchasing the site, Campus Advantage worked closely with the Historic Preservation Office at the City of Knoxville, as well as the Historic Fort Sanders Neighborhood Association, to design a project that will be a win-win for the neighborhood and the campus alike.
"We took great care to design plans for a development that is a good fit for the neighborhood and for the university," said Mike Peter, President and CEO of Campus Advantage. "Our years of experience culminated in the unique plan for this challenging development site."
The community consists of two buildings, a five-level building and a six‐level building, and features two levels of gated garage parking and nine floors of residential space. Amenities will include a Cyber Café, computer bar, lounge room with fireplace and large-screen televisions and fitness center, as well as an innovative, high-concept outdoor green roof with grills, water features, hammocks and a theater area.
Each fully furnished apartment features a 42-inch television in its living room, wood-style flooring in the common areas, an in-unit washer and dryer, high-end finishes, stainless steel appliances and cable and high-speed internet.
"We are extremely pleased to join Campus Advantage in providing the University of Tennessee student community with such a unique living experience," said Stephen Perlmutter, CEO of Pinecrest Partners. "The welcoming, sophisticated environment at The Knox, in a location that allows students to be fully integrated with the campus community, will raise the bar for student living at the University of Tennessee. This is consistent with our strategy of investing capital in the development of new, well-located student housing properties at tier one universities."