A new off-campus student housing facility could be coming near the University of Tampa.
Colliers International brokered the $5.4 million sale of 1.82 acres at 311 N Newport Ave. last week. The development of a six-story housing building there is scheduled to be completed in the fall of 2022.
Colliers did not disclose the name of the student housing developer, describing it in a news release as “a growing firm that has recently completed other student housing developments outside of Florida.”
According to public records, the property was sold to 311 N Newport LLC. The address for the new owner is the same as Reger Holdings LLC, a New York real estate company.
While the apartments will be targeted to University of Tampa students, the school itself is not involved with the development. The purchase comes as the university has been steadily expanding into the surrounding community.
The housing complex will have about 500 beds and a parking garage. It is also planned to include amenities such as an outdoor pool, both indoor and outdoor exercise facilities, a dog wash, storage for bicycles and a retail space.
Sean Baird, student housing group director for Colliers, said he has enjoyed being involved with development in the area.
“It’s great to see these transactions take place,” he said.
Jonathan Holt, student housing group senior associate, emphasized the proximity of the apartments to the University of Tampa. They’ll offer a safe, close, off-campus place for students to live, he said.
The land redevelopment deal closed 91 days after the purchaser submitted a letter of intent, an “unusually short timeframe,” according to Colliers’ news release. The property is located on the former site of a dog daycare center
Colliers Development Services is partnering with construction services company LCK of South Carolina to help in the development of the project. Colliers will provide design coordination, entitlement acquisition, construction procurement and administration and due diligence.