The University of Miami, in Florida, has unveiled plans for a $100 million student housing scheme that will provide more than 1,100 beds, along with a host of other amenities on the campus site, according to the South Florida Business Journal.
Designed by Miami-based Arquitectonica, the proposed 515,220-square-foot project will feature 23 connected buildings featuring green roofs and courtyards. The ground floor will include a learning center, startup incubator, auditoriums and multipurpose rooms.
The proposal is set to be reviewed by the City of Coral Gables’ Development Review Committee this week.
Like the general housing market, demand for student accommodations remains robust and plans by the University of Miami to expand its existing stock of dormitories comes as other institutions carry out similar expansions.
While some are adding or revamping dorms on campus, other universities are looking to the private sector to build and run student housing projects near campus sites.
Work kicked off in December on a $60 million, 17-story student housing project near the campus of the University of Texas at Austin developed by Beijing-based real estate private equity fund management company the Grand China Fund and Austin-based Aspen Heights Partners.
This followed the start of work in November by nonprofit developer College Housing Northwest on a $20 million housing redevelopment project that is set to contain 141 furnished apartments for college and university students in Portland, OR. The units will be priced 15% or more below market rate.
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