�԰�� Purchases City Vista Apartments

The acquisition accelerates the University's Campus Master Planning

Wednesday, January 18, 2017

�԰�� announced today the purchase of the City Vista Apartment complex at the corner of Hildebrand and Devine, 655 E. Hildebrand. City Vista Apartments is a 141-unit complex with a 340-space parking garage. The purchase of the nearby apartment complex accelerates the University's plan to add apartment-style living to its student residential housing options.

Built by the Koontz Corporation in 2015, the property is located at the northern edge of the �԰�� campus. "The property has exciting potential as student residential housing. It provides new living opportunities for juniors and seniors seeking greater independence and privacy, while maintaining the benefits of our residential campus experience," �԰�� President Danny Anderson said.

�԰�� annually enrolls approximately 2,400 undergraduate and 200 graduate students. As a residential campus, �԰�� requires undergraduate students to live on campus for three years. The residential experience is central to the University's transformative, educational mission. �԰�� houses approximately 1,800 students in its campus residence halls. A recent �԰�� housing study reveals that new housing options will be important to attract and retain students. Juniors and seniors seek options such as private rooms as well as apartment-style living. "City Vista Apartments immediately broaden housing options for juniors and seniors and possibly graduate students. This purchase moves �԰�� into the future we are planning," Anderson said.

�԰�� will maintain the current leases and immediately begin the transition process so that City Vista Apartments will operate as student housing for Fall 2017.

At one time in the mid-twentieth century, �԰�� owned this parcel known as the "triangle property." Subsequent multiple changes in ownership and deed restrictions on the property allowed �԰�� to the "right of first offer" if the property were to be sold again. "Opportunity knocked and �԰�� answered, bringing full circle the ownership of the ‘triangle property,'" Anderson said.