This purpose-built, 215 unit student housing project is located on the campus of Georgia State University and in the heart of downtown Atlanta, Georgia. The units range from one to five-bedroom floorplans. The building directly faces the brand new Center Parc Credit Union Stadium (GSU Panthers’ football stadium). The project has anchored the GSU athletics village and led the commercial revitalization of Georgia Avenue and the greater Summerhill neighborhood.
Georgia State University had enrollment of 32,950 students at the Downtown Atlanta campus in 2016. As the university has grown, the dormitory capacity has overflowed, with the university having to find alternative means of hosting on-campus residents, including the use of nearby hotels. Privately owned student housing properties are currently occupied at 95.0% and are expected to stabilize at that level over the next 4 years. Rent growth is forecasted to grow by an average of 3.2% per year through 2020.
The University System of Georgia approved the consolidation of Georgia State and Georgia Perimeter College. The new institution is estimated to have a total of more than 54,000 students. Georgia Perimeter students now have the opportunity to take classes downtown at Georgia State. This has increased the demand for housing at and around GSU’s campus.