Pinecrest has started work on The Penny on College Main, a 199-unit, 605-bed, purpose-built student housing community in College Station, serving students attending Texas A&M University. The site is located on College Main Street and features studio, one-, two-, three-, four-, and five-bedroom apartments. The project will be located at 415 College Main St. The property will offer units with bed-to-bath parity, including townhomes.

Amenities will include multiple study spaces, a resort-style pool, a pickleball court, a fitness center, package lockers, an automated market, a pet relief area and a washroom.

The development team for the project includes Rhode Partners, Rycon Construction, Mitchell & Morgan and Rhode Interior Design. CIBC USA. First Bank of Chicago provided construction financing for the development. It’s supposed to wrap up in 2027.