Austin, Texas – Hammond Jones Development has closed on the construction financing for two new student housing projects.
Austin, Texas – Hammond Jones Development LLC (HJD) has closed on the construction financing for two new student housing projects totaling 504 beds, both of which will open for the Fall 2011 semester. The first, located in Denton, TX, will serve students of the University of North Texas, and will consist of 76 units and 272 beds. The other development, located in Arlington, TX, will serve students of the University of Texas at Arlington and consists of 72 units and 232 beds. Both projects will be fully furnished, and contain a mixture of two, three and four bedroom units. Projects amenities will include multipurpose common areas, a computer lab, pool, study lounge, internet café, tanning beds, and exercise facilities. The Arlington development will also include mixed-use retail areas. Each project is located within blocks of each respective university, and is privately financed. HJD’s management arm, HJD Property Management LP, will provide on-site management services.