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JDP Breaks Ground on 276-Bed Student Housing Project Near the University of Illinois at Urbana-Champaign

Urbana-Champaign, Ill. — Jackson Dearborn Partners (JDP) has broken ground on ICON, a 276-bed student housing development located near the University of Illinois at Urbana-Champaign. The project is being developed in partnership with Sub4 Development and Green Street Realty. The community will offer studio, one-, two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities will include a fitness center, lobby and lounge area and a third-floor deck with an outdoor grilling area. The developers raised equity through CrowdStreet, an online investment platform, using qualified opportunity zone funds. Alpha Capital CRE arranged construction financing for the project through a regional bank. ICON is scheduled to open for the 2020-21 academic year.