DALLAS--(BUSINESS WIRE)--Balfour Beatty Campus Solutions, a leading developer and operator of infrastructure projects for the college and university market, has reached financial close on the third phase of Northside, a mixed-use student housing community for The University of Texas at Dallas. The $38M expansion of the development with partners Dallas-based developer Wynne/Jackson and equity partner Star America will add an additional 370 beds to the community.
The third phase of the project will include mid-rise apartments located on a 5-acre lot adjacent to Phase 2, as part of the dynamic Northside community that serves the more than 25,000 students, faculty, staff and young professionals of the University and greater Richardson, TX area. Upon completion, the apartments will be leased and managed by Balfour Beatty Communities, as with the Phase 1 and 2 units.
The project will be built by Dallas-based Andres Construction, with Architecture Demarest as the lead design firm—the same firms responsible for the successful delivery of Phase 2. The project broke ground earlier this month and is expected to be delivered in July 2020 to accommodate occupancy for the 2020/2021 school year.
“The first two phases of the Northside project have successfully transformed the student experience at UTD, offering dynamic living spaces and convenient access to shops, food and entertainment,” said Bob Shepko, Division President of Balfour Beatty Campus Solutions. “We are very pleased to expand of this success and partner once again with Wynne/Jackson and Star America in support of UTD’s continued growth.”
About Balfour Beatty Campus Solutions
Balfour Beatty Campus Solutions, LLC provides development, asset/property management, and other real estate services to colleges, universities, and their affiliated entities with a special focus on projects utilizing a Public-Private Partnership model. The company offers an alternative solution for higher education institutions to finance and execute their necessary capital plans, including academic facilities for faculty, classrooms and labs, athletic spaces, wellness centers and student housing.
Balfour Beatty Campus Solutions is part of Balfour Beatty Investments, Inc. a global company focused on financing and operating the vital assets that enable societies and economies to grow: roads and railways, health and education facilities, power and water systems, places to live and places to work—the infrastructure that underpins progress. Balfour Beatty Investments is a division of Balfour Beatty plc, a UK-based international infrastructure group operating in construction services, support services and infrastructure investments.