Fountain Residential Partners, in association with Crosswind Development Partners, is expected to break ground this spring on a 139 unit/427 bed student housing community adjacent to The University of North Texas in Denton. The project, 33 North, is expected to deliver for Fall 2013.
Fountain has quietly become one of the most active multifamily developers in the Dallas-Fort Worth area, with three projects to be constructed in 2011 and 2012. The Vue on University Drive apartments at Texas Christian University, being constructed by Centerpoint Builders, is nearing 100% leased for its summer of 2012 grand opening. A second site is under contract one block from the TCU campus for a similar loft-style luxury development to start construction later this year for occupancy in summer of 2013.
33 North will be located on Eagle Drive adjacent to the Greek Housing. The development will be 5-stories tall providing excellent views of campus and controlled parking will be provided in an internal parking garage. 33 North will be a fully furnished community and with all utilities included.
Comprised of one, two, three, and four bedroom apartment homes, custom interior features will include queen sized pillow-top beds, granite countertops, stainless steel appliances, simulated wood flooring, and a premium furniture package including 42" flatscreen televisions in the living areas. Complete with an exclusive feel, 33 North amenities will include a plush urban clubhouse, study room, modern cardio theater fitness center, onsite leasing office, and an infinity pool and outdoor deck.
Brent Little, President at Fountain Residential Partners, notes, "A walk to class location in the heart of the Greek housing area will help propel 33 North to be the premier student housing community for a student body that expects to increase to 45,000 kids over the next 5 years. By providing a higher level of finishes, amenities, and services, we expect 33 North to reset the bar on student living at the University of North Texas, as we have in the TCU market."
Fountain Residential Partners also has a 309-bed student housing project under construction in Corvallis, Oregon, just blocks from Oregon State University that will open in fall of 2012. In addition, they plan to develop a high density collegiate-oriented housing development in Minneapolis, Minnesota, on a site directly adjacent to University of Minnesota property just steps away from a new light rail station serving the Twin Cities campuses.
Fountain is a Dallas, Texas-based multifamily real estate development, acquisition, and asset management company formed by Brent Little, Jonathan Clayton, Trevor Tollett, in partnership with Commodore Student Housing, LLC. Commodore is a subsidiary of the family investment office of Carl Westcott. Crosswind Development was founded by Doug Huffman to build, own and manage multifamily assets primarily in the State of Texas.
SOURCE Fountain Residential Partners
