Subjects: PDT, JVN
Fountain Residential Partners Developing First Phase of a Three-Phase Luxury Student Housing Project at the UNC Charlotte campus in a New Joint Venture with BAM Capital
CHARLOTTE, N. C., Oct. 16, 2019 /PRNewswire/ -- Dallas-based Fountain Residential Partners, in a joint venture with Dallas-based BAM Capital, announces the development of the first phase of a three-phase student housing community in Charlotte, North Carolina serving the University of North Carolina Charlotte. Located at the corner of University City Boulevard and East Mallard Creek Church Road, the project, The Vue on University, will provide 271 luxury apartment homes for up to 727 students in the most highly amenitized and luxurious student housing to serve the rapidly expanding UNC Charlotte market. Upon completion the development will contain over 1,400 beds of housing at the intersection of East Mallard Creek Church Road and University Center Boulevard.
UNC Charlotte attracted the attention of the award-winning national development firm due to its incredible growth, diversity of student population, and nationally recognized quality of education.
The 11.2-acre property will consist of 727 bedrooms including efficiencies, one-, two-, three-, and four-bedroom apartments along with a resort-style pool area, an expansive 6,000 SF clubhouse with strength training and cardio center, and multiple private study rooms. Each fully furnished apartment home will feature condo-like finishes including wood-look flooring, granite countertops, queen sized pillow-top beds, 50-inch flat screen TVs, stainless steel appliances and full-sized washer and dryers.
Brent Little, President of Fountain Residential, says, "We have designed the next generation of housing for the students of UNC Charlotte on the edge of campus with convenient access to the both the university and the retail and restaurants along University City Boulevard. With over 11 acres of land, we are able to build additional student housing in two more additional phases as demand dictates. We have studied this market and the competitive properties and have designed the Vue on University to take advantage of opportunities to provide a living experience unlike any currently available in the area."
Within walking distance to the UNC Charlotte campus, the Vue on University is aimed at the University's steadily increasing enrollment and their commitment to becoming a true global leader in education.
As part of the pre-development of development, Fountain has worked closely with community stakeholders, the local home and business owners, the City of Charlotte, City Council members, and University City Partners.
Jeremy Sain and Teddy Leatherman of JLL were involved in the equity capital raising efforts. First United Bank and Trust is the construction lender and the Vue on University represents the 15th consecutive construction loan between the lender and Fountain Residential Partners.
The Vue on University was designed by Stuart Roosth Architects and Kimley-Horn Associates and is being constructed by Kansas City-based MW Builders, Inc., for completion before the Fall 2021 school year.
About Fountain Residential Partners:
Fountain Residential Partners, LLC is a privately held Dallas-based multifamily real estate development, acquisition, and asset management company specializing in the student housing asset class. Together with the Carl Westcott Family, Fountain Residential was founded by principals Brent Little, Jon Clayton, and Trevor Tollett, all seasoned real estate professionals that have a combined experience of over 50 years in the industry. Specializing in student housing since 2000, the principals of Fountain Residential have completed well over $2 Billion in new student housing construction across the country.
Contact Information:
Trevor C. Tollett ? Vice President
Fountain Residential Partners, LLC
2626 Cole Avenue, Suite 620
Dallas, Texas 75204
Phone: (972) 861-5080
Website: www.fountainresidential.com
[email protected]
Renderings and graphics are available upon request.
SOURCE Fountain Residential Partners
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