April 5, 2016
The University of Nevada Las Vegas has joined forces with Midby Cos. to launch a $76-million, three-phase redevelopment of University Park Gardens. UNLV acquired the property at 4259 S. Maryland Pkwy. last year. Midby Cos. has entered into a 40-year ground lease to redevelop and operate the property, called U District.
The redevelopment’s first phase is currently underway, and is focused on demolishing existing structures and construction of The Degree, a 758-bed student-housing facility anticipated for completion by fall 2017.
The remainder of U District will be built out over two phases during the next decade. The remaining units are being renovated and will be rebranded as Legacy LV.