UHPooldnfinal2.jpg

University House cENTRAL fLORIDA

University Served: University of Central Florida

Number of Beds: 996

Unit Type/Configuration:
Studio, One, Two, Three, and Four Bedrooms

Number of Parking: 1,054

Size:
Residential: 300,000 rsf

Total Development Costs: $65 million

Completion Date: August 2012

Construction Type: Type III Wood Frame and Pre-Cast Wrapped Garage

Management: University House Communities / Scion Group

Loan-to-Cost: 65%

Return on Cost: 9.9%

Awards:
 

University House Central Florida is a 996 bed, five-story mid-rise, student housing development near the University of Central Florida in Orlando. The property initially  opened in 2012 on time and under budget. The property out performed proforma significantly in it first 5 years prior to being sold in the platform/portfolio transaction.  The development team worked on the pre-development for over three years securing entitlements, closing and demolishing an existing operating property, and securing financing and reliable construction partners while reducing the overall development costs of the project by almost $15M in the difficult period following the financial crisis.