Houston Christian University is converting a former senior living facility into student housing. The 200,000-square-foot facility is scheduled to close in June, allowing the school to begin renovations on the five-story building.
The Houston Business Journal reports he first 150 students will occupy floors 3,4 and 5 starting this fall. In the meantime, work is expected to continue in floors 1 and 2, where most of the common areas will be.
The refurnishing and refresh is estimated to cost the university about $7 million to $10 million.
Brailsford & Dunlavey, a university planning consultant, is involved in the project. HCU also engaged LAS Architects to provide concepts.
HCU currently has 1,052 beds of on-campus housing and operates at 98% occupancy. The five-story residential facility will expand the university’s on-campus residential capacity by 33%, adding 300-350 beds through the acquisition. Total student enrollment reached 4,693 students, up 9.75% from 4,276 last fall.
Dwight Capital has closed a $60 million HUD 223(f) refinance for Birchwood Grove, a newly developed 194-unit townhome community in Davenport, Iowa. Birchwood Grove is comprised of 56 two- and three-story townhouse buildings, along with a separate community building that houses a clubhouse, leasing office, and 4,800 square feet of ground-floor commercial space. Located at...
Learn more
Walker & Dunlop, Inc. has arranged $86.5 million in bridge financing for Chasen, a new 352-unit multifamily community in the Scott’s Addition neighborhood of Richmond, Virginia. The property is located in a Qualified Opportunity Zone. Walker & Dunlop Capital Markets Real Estate Finance arranged the loan on behalf of Capital Square. Alexandra Huffman, Justin Nelson,...
Learn more
The Bishop Arts Portfolio is one of three properties Hines recently bought through its Hines Global Income Trust (HGIT). The Dallas property features a mixed-use property with 539 multifamily units and approximately 49,000 square feet of high-street retail. The multifamily assets are approximately 95% leased and the retail space is 98% leased, with 22 tenants comprising...
Learn moreRe/Max Real Estate Professionals
Central CA Commercial | California
Recckio Real Estate & Development
Avison Young - CA - ON - Greater Toronto
California
California