MALVERN, Pa.--(BUSINESS WIRE)--Balfour Beatty Campus Solutions, a leading developer and operator of infrastructure projects for the college and university market, in conjunction with Axium Infrastructure, announced today they have reached financial close on a mixed-use student housing project for Vanderbilt University. The 616-bed development, delivered via public-private partnership (P3), will advance the University’s mission to provide modern, affordable housing proximate to the campus core for graduate and professional students, with co-curricular spaces to help them build community and foster interdisciplinary connections.
The new residential facility, set to break ground this spring and open in August 2023, will be located on Broadway between Lyle and 20th avenues, putting campus and other major points within the Midtown area within easy walking distance.
“We’re pleased to launch the graduate and professional housing development project. We believe the construction of this building will continue to advance our goal of recruiting and retaining exceptional graduate students who will go on to become leaders in their fields,” said Mike Perez, associate vice chancellor and chief facilities officer.
The development will feature apartment-style units in a mix of studio, one- and two-bedroom floor plans. The furnished apartments will be fully ‘turnkey’ with in-unit kitchens and laundry washer/dryer. Utilities will be included.
The development also features a unique ‘Co-Lab’ collaboration space spanning more than 13,000 square feet and offering graduate and professional students a dedicated area for academic and entrepreneurial endeavors with additional group and private study spaces throughout the building. Other amenities include a fitness center, public courtyard and 25,000 square feet of retail space serving the broader Vanderbilt and Nashville communities.
The construction contractor for the project is JE Dunn Construction‘s Nashville office, and the lead architect is Chicago-based Valerio Dewalt Train. The community will be managed and operated by Balfour Beatty Communities upon completion.
“We are thrilled to help deliver premier housing to the graduate and professional students at Vanderbilt University,” said Bob Shepko, president of Balfour Beatty Campus Solutions. “Providing an updated housing option with modern amenities and located in a vibrant neighborhood convenient to campus will further the university’s goal to recruit the best graduate and professional students and provide them with an exceptional experience.”
Since its inception in 2012, Balfour Beatty Campus Solutions has developed more than $1.3 billion in student housing assets for colleges and universities across the United States which include the University of Iowa, Purdue University and the University of North Carolina Wilmington. The company leverages its significant experience in public-private partnerships to deliver world-class housing options to its university clients while allowing them to maintain the financial flexibility needed to invest in future academic infrastructure.
About Balfour Beatty Campus Solutions
Balfour Beatty Campus Solutions, LLC provides development, asset/property management, and other real estate services to higher education with a focus on public-private partnerships that underpin the strategic vision of an institution. The company offers public-private partnership (P3) solutions for funding and delivery of capital plans, including residential, academic, administrative and faculty offices, research, athletic/recreation, student centers, dining, parking and infrastructure.
Balfour Beatty Campus Solutions is part of Balfour Beatty Investments, 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.