Harrison Street, U. of San Diego to Partner for On-Campus Housing

Harrison Street Asset Management and The Michaels Organization have formed a public-private partnership agreement with the University of San Diego to build the Presidio Terrace Apartments, a planned new $230-million, 321-unit, 700-bed on-campus student housing development. The investment represents the first transaction completed through Harrison Street’s dedicated public-private partnership strategy, as well as USD’s first-ever PPP agreement.

Located on USD’s campus between the University’s academic center and a nearby retail corridor, Presidio Terrace will be the University’s latest on-campus residential facility purpose-built for upperclassmen, graduate and professional students. The development is expected to be completed in August 2029.

“Presidio Terrace is a strong example of how PPPs can help universities address critical infrastructure needs, creating a win-win situation for academic institutions, investors, and college communities,” said Jim Hennessy, head of PPP business development at Harrison Street. “Today, we are seeing more PPP activity than ever before, as more universities recognize that these structures allow them to focus on their core academic mission while conserving capital and transferring operational responsibilities to a private partner.”

Rendering courtesy of McCulloch Landscape Architecture.

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