News Summary
Campus Realty Advisors has acquired The Edge, a popular student housing complex in San Marcos, Texas, marking significant changes in local student accommodations. This 173-unit property will undergo renovations and upgrades in response to increased housing demand, especially with Texas State University’s growing enrollment. Exciting improvements including new amenities and living spaces are set to enhance student life. As the local student housing landscape evolves, this acquisition is a pivotal moment for the community.
Big Changes Coming to San Marcos: National Developer Snaps Up The Edge
San Marcos, Texas, is buzzing with exciting news in the world of student housing! Campus Realty Advisors, a company based in Atlanta, has recently made a noteworthy acquisition of a student housing property known as The Edge. This 173-unit complex is located at 1740 Old Ranch Road 12 and has become a popular choice for students attending the nearby Texas State University.
What’s the Scoop on The Edge?
The Edge boasts a total of 553 beds, providing a great variety of living options with its mix of one-, two-, three-, and four-bedroom apartments. It’s not just about the rooms, though; students living here enjoy enviable amenities such as a fitness center, clubhouse, and a basketball court. Plus, it’s positioned conveniently over a mile from the Texas State campus, complete with its own dedicated campus bus stop to make commuting a breeze!
Upgrades on the Horizon
While the exact purchase price hasn’t been disclosed, Campus Realty secured a hefty $23.5 million loan to finance not only the acquisition but also plans for improvements. The Edge was assessed at approximately $27 million for tax purposes, according to local appraisal data. Campus Realty is set to enhance the property with new flooring, cabinets, and bathroom fixtures. In addition, fresh lighting along with an upgrade to study areas and amenities is also on the table.
Enrollment Surge at Texas State
With a 5% increase in student enrollment at Texas State University, now topping over 40,000 students, the demand for quality housing is climbing steeply. In light of this surge, Texas State has faced its share of challenges—especially when it comes to student housing shortages. These challenges have led the university to seek creative solutions, including temporary housing arrangements with local hotels and acquiring properties such as the Cypress Apartments and Sanctuary Lofts.
The Bigger Picture
This acquisition comes at an interesting time in Central Texas, where the student housing landscape is evolving rapidly. The area surrounding the University of Texas at Austin is witnessing proposals for taller structures to meet the growing demand. Another developmental project to keep an eye on is the efforts of industry veteran Bill Bayless, who is setting out with Maslow’s Campus Communities to revamp student housing and form public-private partnerships that focus on modernizing older residence halls.
Future Developments at Texas State
Texas State is also moving forward with significant new dormitory projects, including a staggering $251 million residential complex that is expected to add 1,500 beds to campus housing. These developments aim to provide more students with comfortable living spaces and help alleviate ongoing housing shortages.
What It Means for San Marcos
As The Edge changes hands and undergoes renovations, students can look forward to an upgraded living experience. The sense of community, amenities, and convenient location make it a hotspot for Texas State students. As the city of San Marcos grows and evolves, you can bet that keeping an eye on the housing scene will become increasingly important.
Stay tuned, San Marcos! Big things are coming, and we can’t wait to see how this all unfolds.
Deeper Dive: News & Info About This Topic
- RE Journals: BWE Provides $23.5 Million Loan for Student Housing
- San Antonio Express-News: San Marcos Student Housing Property
- MSN: Company Buys Land in San Marcos
- Wikipedia: Texas State University
- Connect CRE: Palladius Acquires Student Housing Property
- JLL: Refinance for The Timbers in Texas
