College Station, Texas — 1,274-bed development is first phase of a two-phase project being delivered through a public-private partnership model.
College Station, Texas — Balfour Beatty has reached financial close on a new student housing project at Texas A&M University's main campus in College Station, Texas. Balfour Beatty Campus Solutions, a developer and operator of infrastructure projects for the college and university market, is the lead developer, and Balfour Beatty Construction, based in Dallas, is the design/build partner on the project.
The development, phase one of two planned phases, will feature 1,274 beds configured in apartment designs, as well as community areas that will house residence life offices and other amenities for the University's undergraduate population. Construction will begin immediately, and the project will open for occupancy in August 2015.
The project scope, developed through a public-private partnership on a long-term ground lease with the university, includes the design, construction and financing for the new west campus facility. Texas A&M University Housing and Residence Life will manage the facility upon completion. Balfour Beatty Investments helped facilitate the issuance of approximately $104 million in tax-exempt bonds, which will fund the total cost of the project. RBC Capital Markets served as the underwriter for the issuance of the bonds for this project.