Star America has announced that it has reached financial close as a majority equity partner on the US$67 million second phase of a mixed-use student housing project for The University of Texas at Dallas to be co-developed with Balfour Beatty Campus Solutions and Dallas-based residential and commercial developer Wynne/Jackson.

The project will expand on the Northside phase 1 investment, delivering an additional 275 housing units and more than 7,000 square feet of retail space valued at US$67M as part of a PublicPrivate Partnership. Located on a 12-acre lot ground-leased by The University and adjacent to Northside phase 1 which opened in 2016, the phase 2 project will include mid-rise apartments and townhomes that will add 900 beds as well as additional shops, restaurants and entertainment venues to serve the more than 25,000 students, faculty, staff and young professionals of the University.

The project will break ground in the coming weeks and will be delivered in August of 2018 in preparation for the 2018/2019 academic year. It will be built by Dallas-based Andres Construction, who will lead the overall design/build team, featuring Architecture Demarest as the lead design firm.

Christophe Petit, President of Star America said:

“This project represents Star America’s second investment in the growing education P3 infrastructure space and we believe it is a perfect fit for our investment strategy. We are pleased to partner with Balfour Beatty and Wynne/Jackson in satisfying an increasing housing demand of the students at University of Texas in Dallas.”