Texas A&M Announces Land Deal For Expanded Student Housing
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COLLEGE STATION (AP) - The Texas A&M University System has announced a public-private project for more student housing serving the flagship campus in College Station.
Servitas LLC was chosen to develop 48 acres west of George Bush Drive and Wellborn Road intersection, in an area to be called Park West.
The development, unveiled Thursday, should open in August 2017 with 3,400 beds with housing ranging from studio apartments to three-bedroom garden-style units.
The land will be leased to nonprofit NCCD-College Station Properties LLC, which will contract with Servitas Management Group LLC to serve as manager.
NCCD-College Station will pay $18.5 million to Texas A&M, with future revenues projected to average $20 million annually over 30 years. The facilities will revert to the Texas A&M University System upon termination of the ground lease.
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