Student Housing Daily - November 4, 2026 - UNCW affiliate buys 216-bed Plato’s Lofts for $16.25M

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NEWS ROUNDUP

ACQUISITION: UNCW affiliate buys 216-bed asset for $16.25M. A subsidiary of UNCW Corporation II, the nonprofit that supports the University of North Carolina Wilmington, acquired Plato’s Lofts for $16.25 million. The three buildings at 4810 Randall Parkway contain 54 four-bedroom apartments already serving UNCW students. Vice chancellor and CFO Miles Lackey said ownership gives the university more control over long-term housing costs. UNCW projects that rental revenue will cover operating expenses and debt payments. Kevin Meaney, executive director of housing and residence life, said the purchase makes the apartments a permanent option for upperclassmen.

DEVELOPMENT: UIC seeks developer input on a hotel and student apartments. The University of Illinois Chicago is exploring a public-private partnership for a full-service hotel and year-round apartments for upper-division students on Lot 14 along South Halsted Street. Under the proposed structure, UIC would lease the land to a developer that would finance, build and operate the project. Responses to the request for information are due December 8.

DEVELOPMENT: Long Beach City College plans 22 student housing units in North Long Beach. Long Beach City College is designing a four-story residential building at Atlantic Avenue and 59th Street, next to the neighborhood library. The plan calls for 22 units, outdoor space and a separate building with two classrooms. Measures LB and AC will fund the project. The college expects construction to begin in December 2027 and finish in fall 2029.

MARKET UPDATE: University City’s student housing pipeline empties as The Mark leases up. Philadelphia’s University City has no purpose-built student housing in the development pipeline, Bisnow reports. Landmark Properties opened the 909-bed Mark Philadelphia about 80% occupied and preleased half its beds for the next academic year in two weeks. Landmark senior director Aaron Stange said financing costs and local affordability requirements make new projects difficult to build. University City District CEO Sarah Steltz cautioned that the overlay alone cannot explain the slowdown. Trophy Commercial Real Estate’s Craig Thom said some investors overestimated how far the campus rent premium extends into West Philadelphia.

READ: U.S. higher education housing P3s recorded 23 closings in 2025, the most since 2019.

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27 Units | 102 Beds | Built 2025 | Near Loyola Marymount University

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