News Summary
Recent developments in College Station, Texas promise to reshape the student housing market surrounding Texas A&M University. Key transactions include the sale of The Trails at Wolf Pen, a 1,006-bed property, and the upcoming construction of The Penny on College Main, which will feature 199 units to accommodate 605 beds. Additional projects like EVER and VERVE College Station further contribute to this transformation, signaling a robust response to the growing demand for student accommodations. These initiatives reflect a commitment to enhancing living experiences for local students.
College Station, Texas: Transformative Developments in Student Housing
A series of renovations and new developments are set to reshape the student housing landscape in College Station, Texas, home to Texas A&M University. The sale of The Trails at Wolf Pen, a significant 1,006-bed student property, marks a key milestone in this transformation. Stonebridge Property Group has acquired this property built in 1997, consisting of 404 units in various configurations such as one-, two-, and four-bedrooms. Post-acquisition upgrades are planned, focusing on enhancing both the residential units and shared amenities.
The Trails at Wolf Pen
The Trails at Wolf Pen caters primarily to students of Texas A&M University, providing essential amenities like a fitness center, two swimming pools, study rooms, and sports courts for tennis, basketball, and volleyball. Jeyton McNair and Mitch Holt of McNair Collegiate Partners represented an undisclosed seller during this significant transaction.
A New Housing Community: The Penny on College Main
In addition to the recent acquisition, Pinecrest has initiated construction on a new student housing community called The Penny on College Main, set to feature 199 units and accommodate 605 beds. The development is slated for leasing to begin next fall, with move-ins expected during the summer of 2027. This project, developed in partnership with Rhode Partners for architecture and Rycon Construction Inc. as the general contractor, has secured a substantial $76.5 million construction loan from CIBC USA and First Bank of Chicago, maturing in 2029.
Project Features and Amenities
The Penny on College Main will consist of 12 residential stories accompanied by eight levels of parking. Designed with various floor plan options, including one- to five-bedroom units and townhouse layout, the development will also include several common amenities such as individual and group study spaces, a swimming pool, a pickleball court, fitness center, and a pet washroom.
Additional Major Developments
Further revitalization efforts include a luxury student housing project at 313 College Avenue, which is anticipated to encompass 750,000 square feet and over 300 apartments totaling 953 beds. Complementing this is a seven-story parking garage with more than 750 parking spaces. These initiatives are part of the broader Legacy Point master plan, which aims to produce a total of 2,800 beds of student housing, alongside over 50,000 square feet designated for retail and entertainment.
Strategically Located Projects
Moreover, Subtext and Larson Capital Management have unveiled plans for two projects, named EVER and VERVE College Station, strategically located in the Northgate Entertainment District, just 1.5 blocks from the university campus. EVER College Station will be a 384,788-square-foot property featuring 545 beds across 176 units, while VERVE College Station will stand out with an 818,324-square-foot, 21-story structure comprising 1,193 beds across 382 units. Both developments will focus on lifestyle-oriented design, incorporating wellness amenities and community engagement elements. Amenities planned for both properties include study spaces, wellness suites, recreational areas, and resort-style pools.
Construction Timeline
Construction for EVER College Station is expected to commence in Summer 2025, reaching completion by Summer 2027. In contrast, the VERVE College Station project is set to follow in Summer 2028. These developments, in conjunction with the renovation of existing properties, signal a robust response to the evolving needs of the student population, particularly in light of Texas A&M University’s reported preleasing rate of 53.2% at the end of January, reflecting an 80-basis-point decrease year-over-year.
As College Station continues to adapt to the growing demand for student accommodations, these combined efforts showcase an exciting new chapter in providing enhanced living experiences for students attending Texas A&M University.
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Additional Resources
- REBusiness Online: McNair Collegiate Partners Arranges Sale of 1,006-Bed Student Housing Property in College Station
- Wikipedia: College Station, Texas
- Multi-Housing News: Pinecrest Kicks Off 605-Bed Student Housing Project
- Google Search: Student Housing College Station
- RE Journals: Subtext & Larson Capital Management Bringing More Than 1,700 New Student Housing Beds to Texas A&M University
- Google Scholar: Student Accommodations Texas A&M University
- Yield Pro: The Penny
- Encyclopedia Britannica: Student Housing
- Texas Monthly: Luxury Student Housing Boom
- Google News: Luxury Student Housing
