Fayetteville student-housing development set for 2027 opening
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A $97 million, 272-unit student housing project in Fayetteville is expected to open in August 2027, the Northwest Arkansas Business Journal first reported.
The big picture: Enrollment has reached record-high levels at the University of Arkansas, and there aren't enough on-campus beds.
- About 1,200 students were placed in off-campus housing in the fall through UA contracts with apartment complexes.
State of play: The 532,300-square-foot Verve Fayetteville will be at 707 W. Treadwell St. It's being built by Subtext of St. Louis and equity partner Kayne Anderson Real Estate.
- It's expected to add 845 beds in its 272 units, with one- to four-bedroom apartments.
Context: At least other three similar projects are in various stages of approval or appeals with the city.
- Last week, the city council denied the rezoning of 3 acres between Hill and University avenues for a seven-story complex with 313 units and 719 bedrooms, proposed by Chicago-based Core Spaces.
- The council approved a development plan for a seven-story student housing project along Duncan Avenue, just east of the Fayetteville High School football stadium. Austin, Texas-based Endeavor Real Estate Group plans calls for 294 units and 1,011 bedrooms.
- The council may vote again Tuesday about whether to grant an appeal for another seven-story student-oriented housing project on Dickson Street between Church and Block avenues, the Fayetteville Flyer reports. The project brought by developer Trinitas Ventures of Indiana calls for 185 units with 611 bedrooms.
The caveat: The council voted against an appeal by Trinitas last week, but council member Teresa Turk abstained from the vote.
- According to the council's rules, she must vote because she participated in conversation about the appeal.
What we're watching: Turk's vote will either tie the council and require a tie-breaker from Mayor Molly Rawn, or the appeal will be denied.