Off-campus development to feature a combination of townhomes and flats with town center
SAN ANTONIO – October 1, 2013 – (RealEstateRama) — Carter, one of the nation’s leading real estate development, investment and advisory firms, announced today that the company will develop a 198-unit, 590-bed student housing project located less than half a mile from the University of Texas at San Antonio. The 16-acre community will include 121 flats and 77 townhomes built around a “town center.” The development will feature a mixture of two-, three- and four-bedroom units. The townhomes will include two-car garages.
“Carter is excited to be developing a unique student housing project in what we consider to be a growing and strong market,” said Conor McNally, chief development officer at Carter. “UTSA’s enrollment has increased by nearly 10 percent since 2006, and this high-quality, amenity-rich project will provide the university with a progressive alternative to traditional student housing developments.”
The community will feature abundant green space with a variety of areas for people to congregate. The amenities will also include a resort-style pool, dog park, fitness center with tanning beds, media/game room and volleyball and basketball courts.
“Carter has a rich history of developing mixed-use projects, and we are committed to creating off-campus student housing developments that meet students’ educational and lifestyle needs,” said Scott Taylor, president at Carter. “Developing student housing that provides robust amenities and walkability, as well as access to public transportation is a priority of ours. With college enrollments continuing to grow, we look forward to developing more projects like the one we have planned at UTSA.”
The community will be located less than a mile from The Shops at La Cantera, an upscale, open-air regional shopping center featuring more than 160 retail, dining and entertainment offerings, as well as The Rim, a retail center that includes a Bass Pro Shop, 19-screen IMAX, Hotel Talavera, Target and Best Buy. Additionally, the community is less than a mile from the 125-acre UTSA Park West, the school’s athletic facility that will eventually include a 35,000-seat football stadium once construction is complete.
The project design team includes Reese Vanderbilt & Associates as the architect, Pape-Dawson Engineers, Inc. as the civil engineering firm and SpawGlass as the contractor. Cardinal Group Management will provide property management and leasing services for the project.
Construction began in September 2013, with a scheduled completion date of July 2014.
Carter is one of the country’s leading real estate investment, development and advisory firms with landmark mixed-use, multi-family, and student housing projects under construction around the country. The company, founded in 1958, is headquartered in Atlanta and has a proud history of leading visionary and bold real estate developments that have improved communities and created value for its clients. Today, Carter draws on its history, experience and creativity as the company develops projects, seeks new investment opportunities and advises clients as they make key real estate choices. Specifically Carter focuses on the development of mixed-use and multi-family project in urban infill locations, equity development of student housing, acquisition of opportunistic office properties, project management and strategic consulting. Carter’s high-caliber associates create value for clients using a team-based approach that leverages strong expertise and a deep knowledge base in a wide variety of markets. Carter also focuses on value-add real estate investment opportunities, and over the past decade has invested in more than $750 million. Carter’s asset management division manages more than $2 billion of third-party and Carter-owned assets. Its strategic consulting practice provides clients with customized real estate solutions. Its program/project management group serve as owners’ representatives for higher education, K-12 and corporate assignments. For additional information on Carter, please visit www.carterusa.com.
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The Wilbert Group