CHARLOTTE, N. C., Oct. 16, 2019 /PRNewswire/ -- Dallas-based Fountain Residential Partners, in
a joint venture with Dallas-based
BAM Capital, announces the development of the first phase of a
three-phase student housing community in Charlotte, North Carolina serving the
University of North Carolina Charlotte.
Located at the corner of University City Boulevard and East Mallard
Creek Church Road, the project, The Vue on University, will provide
271 luxury apartment homes for up to 727 students in the most
highly amenitized and luxurious student housing to serve the
rapidly expanding UNC Charlotte market.
Upon completion the development will contain over 1,400 beds of
housing at the intersection of East Mallard Creek Church Road and
University Center Boulevard.
UNC Charlotte attracted the
attention of the award-winning national development firm due to its
incredible growth, diversity of student population, and nationally
recognized quality of education.
The 11.2-acre property will consist of 727 bedrooms including
efficiencies, one-, two-, three-, and four-bedroom apartments along
with a resort-style pool area, an expansive 6,000 SF clubhouse with
strength training and cardio center, and multiple private study
rooms. Each fully furnished apartment home will feature condo-like
finishes including wood-look flooring, granite countertops, queen
sized pillow-top beds, 50-inch flat screen TVs, stainless steel
appliances and full-sized washer and dryers.
Brent Little, President of
Fountain Residential, says, "We have designed the next generation
of housing for the students of UNC
Charlotte on the edge of campus with convenient access to
the both the university and the retail and restaurants along
University City Boulevard. With over 11 acres of land, we are able
to build additional student housing in two more additional phases
as demand dictates. We have studied this market and the competitive
properties and have designed the Vue on University to take
advantage of opportunities to provide a living experience unlike
any currently available in the area."
Within walking distance to the UNC
Charlotte campus, the Vue on University is aimed at the
University's steadily increasing enrollment and their commitment to
becoming a true global leader in education.
As part of the pre-development of development, Fountain has
worked closely with community stakeholders, the local home and
business owners, the City of
Charlotte, City Council members, and University City
Partners.
Jeremy Sain and Teddy Leatherman of JLL were involved in the
equity capital raising efforts. First United Bank and Trust is the
construction lender and the Vue on University represents the
15th consecutive construction loan between the lender
and Fountain Residential Partners.
The Vue on University was designed by Stuart Roosth Architects
and Kimley-Horn Associates and is being constructed by Kansas City-based MW Builders, Inc., for
completion before the Fall 2021 school year.
About Fountain Residential Partners:
Fountain Residential Partners, LLC is a privately held
Dallas-based multifamily real
estate development, acquisition, and asset management company
specializing in the student housing asset class. Together with the
Carl Westcott Family, Fountain Residential was founded by
principals Brent Little,
Jon Clayton, and Trevor Tollett, all seasoned real estate
professionals that have a combined experience of over 50 years in
the industry. Specializing in student housing since 2000, the
principals of Fountain Residential have completed well over
$2 Billion in new student housing
construction across the country.
Contact Information:
Trevor C. Tollett – Vice
President
Fountain Residential Partners, LLC
2626 Cole Avenue, Suite 620
Dallas, Texas 75204
Phone: (972) 861-5080
Website: www.fountainresidential.com
ttollett@fountainresidential.com
Renderings and graphics are available upon request.
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SOURCE Fountain Residential Partners