Company to own and operate student housing across from MMC

Education Realty Trust's University of Arizona pool is an example of one of the "tropical" features the company will incorporate into the new off-campus housing development across from Modesto Madique Campus. Photo courtesy of Susan Jennings, vice president of corporate communications and marketing at EdR.

Photo: EdR’s University of Arizona pool is an example of one of the “tropical” features the company will incorporate into the new off-campus housing development across from MMC. Photo courtesy of Susan Jennings, vice president of corporate communications and marketing at EdR.

Madison Fantozzi//News Director

Students may find themselves studying poolside in 2014 with the construction of a new off-campus housing development across from the north end of Modesto Madique Campus that will be designed specifically for students. The development will feature study areas, tremendous pool decks and robust Internet and Wi-Fi capabilities.

EdR, a company that develops, owns and operates collegiate housing, announced on April 22 its plan to acquire the development upon its completion.

“This will be the first property ever developed ground-up specifically geared toward students,” said Scott Barton, vice president of EdR’s real estate acquisitions.

According to Business Wire, FIU has only 3,500 beds and a growing student population. The development will be 15-stories with 542 beds making up a variety of two- and four-bedroom apartments.

The collegiate housing development sets itself apart from other communities by catering to students’ needs and interests. The development will be equipped with study areas and computer labs, robust Internet and Wi-Fi capabilities, as well as pools, social areas and programming.

Susan Jennings, vice president of EdR’s corporate communications and marketing, said the development will provide services and amenities that may not be available for students at other off-campus housing and apartments.

An example, she said, is robust Internet.

“Students are doing homework and running small businesses,” said Jennings. “We know Wi-Fi and Internet capabilities need to be robust and we monitor them everyday.”

In addition to study areas and high-speed Internet, the development will facilitate socializing opportunities for students.

“There will be many programming events with particular interest to students,” said Barton. “Like pizza parties at the pool.”

EdR owns and operates housing developments at University of Florida, Florida State University and University of Central Florida.

Barton said FIU’s development will be unique to South Florida, “with tremendous pool decks and gazebos.”

The company will lease by the bed, rather than the apartment.

“If there are four bedrooms, you are responsible for your bed. You don’t have to rely on roommates to pay up,” said Barton.

The bedrooms and apartments are fully furnished.

The company will close its deal at the completion of the development’s construction, estimated for August 2014.

madison.fantozzi@fiusm.com