Stephenville, Texas — The project will build a new 502-bed housing facility and renovate an existing, off-campus 80-bed facility.
Stephenville, Texas — Balfour Beatty will break ground in late July on a second phase of development at Tarleton State University, a member of the Texas A&M University system. In this $38 million phase of the partnership, Balfour Beatty will construct a new 502-bed student housing facility and renovate an existing 80-bed facility for the university’s Stephenville, Texas, campus. Balfour Beatty also helped the university acquire two parcels of land adjacent to the campus where the new construction will be sited. Balfour Beatty Campus Solutions will serve as the lead developer and Balfour Beatty Construction will perform as the construction partner.
The new housing facility, designed by BOKA Powell Architects, will consist of a single four-story structure with four- and two-bedroom units in a modified suite configuration that will provide private bedroom accommodations with semi-private baths, a living room and kitchenette.
Balfour Beatty will also renovate an existing off-campus structure called University Village, which was acquired as part of the transaction. Renovations to the 80-bed facility will include minor upgrades to allow for ADA compliance. Upon completion, the university will operate and maintain both facilities including management of all residence life facilities.
Both phases of the project with Tarleton State are being financed through a public-private partnership model using an issuance of tax-exempt bonds underwritten by RBC Capital Markets. The project will be owned by an affiliate of Collegiate Housing Foundation, a national 501(c)(3) under a 32-year ground lease with the university.