26 Feb University Park New Student Housing Project to be Developed in Boca Raton
New Student Housing Project to be Developed in Boca Raton
The joint venture partnership of Rosemurgy Properties, Giles Capital Group, and Lewis Rental Properties announced today the development of University Park as the first, purpose-built student housing project in Boca Raton, Florida. The luxury student living complex will be built on 10.89 acres at 135 N. W. 20th Street. This 279,097 square-foot, off-campus community will feature eight, four-story buildings with accommodations for 598 beds in 159 units. The fully-furnished 2, 3 and 4 bedroom apartments will have modern furnishings, flat screen TV’s, in-unit washer/dryers, kitchen, living area, bedrooms and private bathrooms. University Park will offer extensive amenities including a state-of-the-art 13,500 square foot, two-story clubhouse with student lounge and juice bar, 24-hour fitness facilities with a cross fit room and yoga studio, tanning beds, hi-tech video gaming rooms, computer labs, study and conference rooms, and vending areas with student supplies and snacks. Outdoor features will incorporate a resort-style pool area with green space for lounging, covered barbecue grills, fire pits, and study hammocks. The community will have 1GB internet speed and wireless internet throughout the property, secured indoor bicycle storage, valet waste pick-up, on-site property management, and limited access gated entrance. Free transportation will be provided in the form of a private shuttle bus that will transport residents to and from Florida Atlantic University and Palm Beach State College in Boca Raton. The University Park project team includes: Architect: RLC Architects, Boca Raton, FL; General Contractor: Current Builders, Pompano Beach, FL; and Interior Designer: The Childs/Dreyfus Group, Chicago, IL. Property management for University Park: Innovative Student Housing, Houston, TX. Construction financing managed by HFF, Miami, FL. Construction is underway, and University Park will open to students in the summer of 2015.
About Rosemurgy Properties Founded in 1977 and located in Boca Raton and Deerfield Beach, Florida, Rosemurgy Properties is a privately owned commercial real estate development, investment and management firm. Portfolio assets include multi-family, self-storage, retail, office and land properties, with the focus of a long term diversified investment strategy. The company, which includes construction and property management divisions, continues to expand and is committed to providing outstanding service and quality for its investors, customers and residents. For more information about Rosemurgy Properties, please visit www.rosemurgyproperties.com or call 954.571.3404.
About Giles Capital Group Giles Capital Group is a real estate investment and advisory services company focused on the multi-family industry. As President and founder, Richard P. Giles has 25 years of experience in the apartment industry including guiding the operations of more than 25,000 apartments throughout the Mid-Atlantic and Southeastern regions of the United States. During his career, Mr. Giles has also been responsible for fee managed, joint venture, REIT-owned properties, and condominium conversion/associations. He formed Chameli of Miami LLC for the purpose of acquiring student housing development sites and assets, and is a past investor/owner of the Campus Circle purpose-built student housing development in Tallahassee, FL. Prior to founding Giles Capital Group, Mr. Giles was Chief Operating Officer with The Bainbridge Companies and Group Vice President with Archstone-Smith. Mr. Giles is a licensed real estate broker and has served on the board of directors of the Palm Beach, Broward and Miami-Dade Apartment Associations. For more information about Giles Capital Group, please call 561.602.3895.
About Lewis Rental Properties Boca Raton based Lewis Rental Properties was founded in 1970. The company has developed Boca Design Center, Boca Industrial Center and other light industrial warehouse properties along with self-storage properties. For more information about Lewis Rental Properties, please visit www.lewisrentalproperties.com or call 561.394.9500.