Phase I of University Village @ Slippery RockWashington, D.C. —  Oculus Capital Group (OCG) has announced plans to develop phase II of University Village @ Slippery Rock. OCG acquired the property, formerly known as The Ivy, in 2010 and spent $1.1 million on capital improvements, including an enclosed outdoor kitchen with hot tub, new basketball and volleyball courts, and a complete renovation of the clubhouse. That 200-unit, 632-bed property is currently 100 percent leased for the 2011-2012 school year.

Phase II consists of five new buildings on an 18-acre parcel of land adjacent to the first community that will consist of five buildings totaling 44 units and 152 beds. The student housing complex is less than a quarter mile from Slippery Rock University in Slippery Rock, Penn. OCG expects to break ground by June 2012.