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Student Housing Daily - July 3 - JLL arranges sale of 447-bed student housing community

Student Housing Daily - July 3 - JLL arranges sale of 447-bed student housing community

Gilbane/Palm Beach Atlantic University break ground. Core Spaces JV breaks ground. University of Mississippi taps Greystar for 2,700-bed P3 housing project. Navigating the nuances of student housing and multifamily. Four new student housing deals.

Aid Sopjani & Matt H
July 03, 2025

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NEWS ROUNDUP

DISPOSITION: JLL arranges sale of 447-bed student housing community. JLL has arranged the sale of The Flats at ISU, a 447-bed student housing property located in Normal, Illinois, serving students at Illinois State University (ISU). Developed between 2011 and 2014, the community comprises 155 units in studio to four-bedroom layouts and boasts amenities such as a fitness center, study areas, tenant lounges, and outdoor grilling stations. Currently 99% occupied for the 2024–2025 academic year, The Flats at ISU is benefiting from a surge in demand driven by record enrollment at ISU, including its largest freshman class in 37 years, totaling 21,546 students, according to JLL. Scott Clifton, Kevin Kazlow, and Jack Goldberger led the transaction on behalf of the seller.

DEVELOPMENT: Gilbane/Palm Beach Atlantic University to break ground on 240 million residence hall project. Gilbane and Palm Beach Atlantic University (PBA) have reached financial close on a $240 million public-private partnership to develop a 25-story student housing tower in downtown West Palm Beach, marking a transformative project for both the university and the city’s urban core. The 319,000-square-foot development will deliver 275 apartment-style units totaling 990 student beds, along with a 28,000 sq. ft. dining hall, 14,000 sq. ft. fitness center, and an 8.5-level, 704-space parking garage. Over 230 bicycle and e-bike stalls will also be included. Construction is set to begin in summer 2025, with completion expected by August 2027. “This project will provide more housing options for students and help ease pressure on the local housing market,” said Jeffrey Resetco, Senior Development Director at Gilbane Development. The development team includes Gilbane Development (developer), Gilbane Building (design-builder), and Cube3 (architect), supported by Urban Design Studio, Shutts & Bowen, and Kimley-Horn on planning, legal, and traffic engineering.

DEVELOPMENT: Core Spaces JV breaks ground on 1,303 beds. Core Spaces and Kayne Anderson have begun construction on Hub Clemson, a 394-unit, 1,303-bed student housing development near Clemson University in Clemson, South Carolina. The seven-story project is expected to deliver in June 2027. Set on an 821,000-square-foot site, Hub Clemson will offer studio to five-bedroom apartments, including three-story townhomes. Amenities will include a rooftop pool, fitness center, lounge, coffee shop, green spaces connected to Keowee Trail, and 8,700 square feet of retail. Plans also include 800+ parking spaces and enhancements to the adjacent Abernathy Park, with new dining areas, pathways, and entertainment zones. Juneau Construction Company is the general contractor. Northworks Architects, Harken Interiors, and Core’s in-house design team are handling architecture and interiors. TSB Capital Advisors is advising on financing.

DEVELOPMENT: University of Mississippi taps Greystar for 2,700-bed P3 housing project. The University of Mississippi has partnered with Greystar to develop 2,700 new on-campus beds by 2027 through a public-private partnership. The plan, approved by the IHL Board of Trustees, includes housing, dining, and parking facilities—without the university bearing the full financial burden. The new housing will be built on the former Kincannon Hall site (1,200 beds) and West Row (1,500 beds), which will also feature a dining hall and 1,500-space garage. Modular units will be manufactured off-site by Modern Living Solutions, Greystar’s construction arm, and assembled in Oxford, MS, speeding up timelines and reducing costs. Chancellor Glenn Boyce, Vice Chancellor Steven Holley, and Greystar’s Julie Skolnicki emphasized affordability, student experience, and local job creation—over 70% of construction work is earmarked for Mississippi subcontractors.

READ: Navigating the nuances of student housing and multifamily.

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