January 3, 2017
Aspen Heights Partners, based in Austin, and Grand China Overseas Investment Management Ltd. began construction on its $60 million, 17-story student housing development at 1909 Rio Grande St. in Austin, TX. The 464-bed Aspen West Campus will serve students attending the nearby University of Texas-Austin. Completion is scheduled for fall 2018.
The student housing development is Aspen Heights’ first in Austin. The company built two other Austin apartment complexes in 2016, that were not geared toward students. Development partner Grand China is a real estate private equity fund manager, with approximately $1.2 billion in assets under management, and a track record of funding construction of 22 residential projects across the United States.
Units will range from studios to five-bedroom floorplans. Amenities will include a fitness center, game room, study lounge and pool.
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