Houston — WGC Development, in conjunction with an undisclosed institutional investor, has broken ground on Tower 5040, a 405-bed student housing community located near the University of Houston.
The eight-story building will offer one-, two- and four-bedroom units. Select apartments will feature large balconies with fire pits. Shared amenities will include a swimming pool with an adjacent movie screen, a fitness center, conference room, business center, private study rooms, a game room, indoor and outdoor socializing areas and a dog park. Humphreys & Partners Architects designed the community, and Arch-Con Construction will handle construction. Nick Gonzalez of GRC Capital arranged equity and debt on behalf of the partnership. The property is set to open in summer 2020.