Student Housing Daily - July 30, 2026 - Core Spaces breaks ground on 1,656-bed development

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NEWS ROUNDUP

DEVELOPMENT: Core Spaces breaks ground on 1,656-bed development. Core Spaces has closed on and broken ground on Hub Athens Dougherty, a 1,656-bed, 536-unit student housing development near the University of Georgia in Athens, Georgia, scheduled for delivery in 2028. Joe Gatto, Senior Managing Director of Acquisitions at Core Spaces, said the project resulted from a public-private partnership with Athens-Clarke County that will also deliver public parking, approximately 16,000 square feet of retail, infrastructure improvements, historic preservation and a new public plaza. Core partnered with Mallory & Evans, where Jake Strickland, Executive Vice President of Mallory & Evans Development, highlighted the years of collaboration required to bring the project to construction.

ACQUISITION: Northeastern acquires 700+ bed residence hall for $169 million. Northeastern University has acquired the East Village residence hall in Boston, Massachusetts, from Phoenix Property for $169 million, ending an 11-year lease and giving the university full ownership of the property. Phoenix Property and Lincoln Property developed the 17-story residence hall after Phoenix acquired part of the Huntington Avenue YMCA of Greater Boston property in 2012, with East Village opening to students in 2015. The building contains more than 700 beds and includes a top-floor event space accommodating approximately 300 people.

FINANCING: Radnor and Madrone secure $146.8 million financing. Radnor Property Group, in partnership with Madrone Community Development Foundation, has secured approximately $146.8 million in tax-exempt and taxable bond financing for a 305-unit, 793-bed student housing development serving Spelman College and Morehouse College in Atlanta, Georgia. The $147 million project is now under construction and is scheduled for completion by fall 2028.

DEVELOPMENT: University of Tennessee adds 1,569 beds to Knoxville P3. The University of Tennessee, Knoxville received state approval in July 2026 to expand its public-private partnership with Provident Resources Group and RISE Real Estate, adding approximately 1,569 new student housing beds across three residence halls. The new residences are expected to be delivered in phases around fall 2028 and fall 2029 and continue the university's broader P3 housing program, which includes Beacon, Poplar and Torchbearer halls.

MUST READ: The P3 case for campus modernization.

STUDENT HOUSING FOR SALE

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104 Units | 375 Beds | Price: $13,500,000 | Price/Bed: $36,000 | Pro-Forma Cap Rate: 8.22%

197 Units | 97% Average Occupancy | 98% Preleased For AY 26/27

ONE MORE THING

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