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Spencer Hayes' Blog

By Spencer Hayes | Agent in 36117
  • Ground Breaks on 668 Beds to Serve Ole Miss

    Posted Under: General Area in Oxford  |  July 3, 2012 6:35 AM  |  238 views  |  No comments

    OXFORD, MS—Memphis, TN-based Education Realty Trust joined forces with Landmark Properties to develop the first cottage-stylestudent housing property that will serve students attending theUniversity of Mississippi. To that end, the joint venture has secured financing from PNC Bank and has launched construction on the 668-bed student housing project, which is scheduled for a fall, 2013 completion.

    The as-yet-unnamed project is located at 2405 Anderson Rd. and will consist of 160 two-, three-, four- and five-bedroom cottages. Each cottage will feature a private bathroom for each bedroom, large closets, a full-size washer and dryer, nine-foot ceilings, carpet, ceramic tile and hardwood-style vinyl floors and high-speed internet/cable. All appliances are included in the units'  gourmet kitchens.

    “We are excited to break ground on the first cottage community at the University of Mississippi,” said Randy Churchey, president and chief executive officer of EDR in a press release announcing the construction launch. “This college community is the ideal location for the cottage concept.”

    “We are fortunate to have a great partner like EDR as we take the cottage concept to markets across the country,” added Wes Rogers, president and chief executive officer of Landmark in the same release. “We think this cottage development will be very well received by the students at Ole Miss.” Representatives were not immediately available for comment.

    Though "Ole Miss" doesn't publish enrollment projections, based on recent historical performance, EDR anticipates enrollment growth of approximately 4% for the next few years. This growth rate would increase enrollment by more than 1,560 students when this community is completed in fall 2013. 

 
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