Greystar, Merrimack College Open Two New Residence Halls
Greystar and Merrimack College celebrated the opening of two new residence halls, Shawsheen and Essex. The two-building student housing development is located at the intersection of Route 114 and Andover Street in North Andover, MA, representing. the largest increase in Merrimack’s housing stock since 2015..
“We have over 30 years of experience on college campuses across the country and are thrilled to have partnered with Merrimack College on the development of Shawsheen and Essex Residence Halls,” said Ryan Souls, managing director of development at Greystar. “Exceptional living spaces are integral to supporting student success, and we are incredibly excited to hear the early positive feedback from students already settling into their homes here for the year.”
The project was made possible through a public private partnership (P3) between Merrimack, Greystar, and Collegiate Housing Foundation (CHF), a nonprofit 501(c)(3) owner of student housing facilities. A CHF affiliate will own the assets through a long-term land lease with Merrimack College, which will then own the buildings at the end of the lease period.
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