Galveston, Texas — The residence hall will include 612 beds as well as possible retail or classroom space.
Galveston, Texas — The Hunt Companies will develop a $45 million student housing project on the Texas A&M University campus at Galveston. El Paso, Texas-based Hunt is a privately owned developer that focuses on delivering military housing through public-private financing and partnerships. The 612-bed development will house students participating in the university's Corps of Cadets program, in which students train in one of four areas, such as NROTC, which leads to service in the U.S. Navy. The university will operate the housing when it is complete in fall 2015.
The facility's commons is being designed to possibly provide a number of non-residential essentials, which may include classrooms, office space, conference rooms, lounges or miscellaneous support-related retail. The project's financial close will take place this summer. This is the first partnership between Hunt and the Texas A&M University system.
"As a part of our overall business management strategy, The Texas A&M University System continues to seek innovative ways to gain access to private sector capital as well as expertise in delivering such construction projects in the most timely, efficient and cost-effective manner possible," says Phillip Ray, chief business development officer of The Texas A&M University System.