The Florida Board of Governors approved a $135 million development of student housing at the University of South Florida in partnership with a private developer.
USF and Capstone-Harrison Street LLC would form a public-private partnership to replace 1960s-era student housing on the university’s campus in Tampa with a mixed-use “residential village.”
Capstone-Harrison Street is a joint venture of Capstone Development Partners LLC and Harrison Street Real Estate Capital LLC.
Demolition of four existing residential buildings at USF could start in May of next year to make way for a new housing complex with 1,250 beds.
The second phase of the project would include further demolition work and construction of new student housing with another 900 beds.
By June 2018, USF expects the construction work will be complete, increasing on-campus student housing capacity from 5,333 beds to almost 6,500.
USF President Judy Genshaft said the housing development would prove “transformative” for the university because students who reside on campus are more engaged with each other. [Tampa Bay Business Journal] — Mike Seemuth