EdR, Laconia Begin $110M Student Housing
EdR joined forces with Laconia Development to begin construction on a 599-bed student housing project that will serve students attending the University of Hawaii in Honolulu. The Memphis, TN-based EdR will be 90% owner, and will manage the $110 million as-yet-unnamed development upon completion.
The housing will offer a mix of one, two, three, and four-bedroom floor plans, along with 13,000 square feet of ground-floor retail space and structured parking. Amenities include a fitness center, outdoor terrace lounge, community kitchen, study lounges and gaming areas. The property is adjacent to the university’s campus.
The University of Hawaii has pent-up demand for modern collegiate housing. There are few student housing options, and high barriers to entry. “This is a great opportunity to add to our development pipeline, which is driving significant growth for EdR,” said Randy Churchey, EdR’s chief executive officer.
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