Eyzenberg & Co. Structures Ground Lease, Selects Greystar to Develop a 424-Unit Student Housing Property Near Virginia Tech

Blacksburg, Va. — Eyzenberg & Co. has structured a ground-lease on behalf of Sturbridge Square LLC and procured Greystar to redevelop an 11.5-acre site near Virginia Tech University. The property — located at 1001 University City Blvd. one mile north of campus — is currently occupied by Sturbridge Square Apartments and will be redeveloped into a 424-unit student housing community. Greystar expects to break ground on the development this summer, with completion scheduled for fall 2022. Sturbridge Square Apartments currently comprises 11 buildings. The new community will feature six buildings offering one-, two-, three- and four-bedroom units as well as townhomes. Shared amenities will include green recreational space, a half basketball court, swimming pool and picnic area. David Eyzenberg of Eyzenberg & Co. with help from analyst Fan Yu structured the ground-lease and procured the development team. BSB Design Inc. is serving as architect of the redevelopment.

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