The University of South Carolina has opened Campus Village, a $240 million on-campus student housing development in Columbia, S.C. Comprising a total of 1,800 beds, the property marks the largest construction project in the university’s 222-year history.
Ground broke in May 2019, with Contract Construction and Juneau Construction overseeing the project’s development. Boudreaux and WDG led the architectural design and planning for the community. Greystar will be in charge of property management.
Greystar and its joint venture partner Tikehau Star Infra have recently secured two loans totaling $162 million to refinance two student housing communities in the Washington state and Oregon.
The four-building community is in the south region of the campus, near the former site of Cliff Apartments and is surrounded by Hollywood/Rose Hill, Wales Garden and Wheeler Hill neighborhoods. The six-story buildings include innovative study and classroom spaces, community kitchens and suite or pod-style units. Additionally, Campus Village features The Pavilion, a roughly 14,000-square-foot dining hall, 13 living and learning communities, shuttle service, as well as a few retail options including The Gamecock General Store, Jimmy John’s sandwich shop and a Starbucks. Additional campus parking within walking distance is also available.
The impact of high interest rates and the reduced availability of debt financing continue to impact the student housing market. The University of South Carolina – Columbia remains among the nation’s top academic institutions for student housing sales volume, with a total of $34.7 million as of the first quarter, Yardi Matrix data shows.
