Capstone Secures Financing for SDSU Student Housing Development
Capstone Development Partners closed on a traditional debt and equity financing for VIVA 5750, a new on-campus student housing community at San Diego State University. The project will have a total development cost of roughly $23.5 million.
The four-story, 80,000-square-foot community will house roughly 182 students in a mixture of apartment-style units, and will include a variety of indoor and outdoor amenities. Construction of the project commenced last month, and it’s scheduled to open for the fall 2021 semester.
The property is located on land ground-leased to Capstone by the SDSU Research Foundation, and will serve as a cornerstone to the University’s southern gateway entrance at Montezuma Road and Campanile Drive.
Capstone, along with its architect JWDA Architects and builder Cannon Constructors, Inc, collaborated with the Foundation’s project stakeholders on the planning, programming and design of the new apartment community to ensure it meets the University’s goals and objectives relative to upper-division and graduate-student housing options.
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