Atlanta based Carter Development has begun work on a nearly 200 unit student housing complex, to be called Tetro Student village, on the northeast corner of Babcock Road and Loop 1604, 1200 WOAI news reports.
Tetro Chief Development Officer Conor McNally says the project, which will include 121 flats and 77 townhomes, will be one of the ‘premiere student housing communities in the state.’
“This has been a truly collaborative process, and we’d like to thank the City of San Antonio, UTSA, the neighborhood associations, and everyone involved for helping us get this project moving so quickly,” he said.
The project will include two, three, and four bedroom units, and will include two car garages, a coffee shop, club room, fitness center, media room, and volleyball, basketball, and bocce ball courts. Cardinal Group, which will handle the leasing for the project, says there are already nearly 100 pre leases in hand. The project is set to open with the fall semester in August.
The project marks an expansion of what is known as the ‘UTSA Community’ with the first major student housing project outside Loop 1604, although many students live in apartments located along Chase Hill Road.
The Tetro Truck, a converted food truck, will be seen at events in the UTSA area over the coming months, allowing students to take ‘virtual tours’ of the project.
High end student housing has become more popular in recent years, and is seen as a prime real estate investment opportunity. More students are shying away from traditional dormitories, which frequently feature two students living in one room and sharing a ‘down the hall’ bathroom and common shower area. Today’s students, few of whom have shared a bedroom with a sibling at home, are looking for more private amenities in college housing.
McNally said the project is set to be completed in July.