Greystar Answers Call for High-Quality Student Housing

Greystar Real Estate Partners LLC recently closed $600 million for three mixed-use university student housing projects at the University of Texas at Austin. The investment includes two projects at UT Austin, a tier 1 research institution, with the fifth-largest enrollment in the nation and the 15th ranked public university in the nation.

Union on San Antonio, a public-private partnership with St. Austin Catholic Parish, is a $170.7 million high-rise delivering 425 units and 991 beds, and the new Catholic parish, rectory and K-8 school for $32 million. The Union is located on the corner of San Antonio and 21st street, one block from the UT Austin campus. The project designed by Page and Greystar’s Austin team will oversee development and construction management with Hensel Phelps as the general contractors.

The second UT Austin project, The Union on 24th includes a $262 million high-rise delivering 552 units and 1,448 beds to the West Campus submarket. Greystar will lead the development and perform construction.

The University of Maryland’s Knox Road development is a $140 million public-private partnership with Terrapin Development Company.

“The successful financial close and groundbreaking of these three projects is a tremendous achievement by our development, finance, investment and university partnerships teams,” said Julie Skolnicki, senior managing director of Greystar. “We’re seeing an increase in demand for high-quality student housing and complex mixed-use P3 structures at top-tier institutions in the U.S. and we’re thrilled at the opportunity to support the evolutions of these campuses.”