Purpose-Built Student Housing Near SDSU Has Financing in Place
Construction financing and equity has been assembled for 5077 College Ave., a Class A purpose-built student housing development adjacent to San Diego State University (SDSU). Terms were not disclosed. The project is a joint venture between Akara Partners and Deven Group as co-general partners and co-developers. Construction begins immediately, with delivery targeted for the 2028–29 academic year.
“Across our housing platform, we seek the best locations in markets that pair strong long-term growth with high barriers to entry, and SDSU is a perfect example of both,” said Rajen Shastri, founder and CEO of Akara Partners. “We sourced and entitled this site over two years, and we’re proud to be developing it alongside our partner Deven Group.”
Located on the corner of College Avenue and Montezuma Road, roughly 100 feet from the SDSU campus core, the eight-story, 110-unit development will deliver 305 beds across approximately 98,500 square feet on a transit-oriented infill site.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout