Developer Core Spaces is proposing a large student housing-focused project targeting the University of California, Berkeley.
The proposal calls for a 285-unit complex that would accommodate up to 800 residents at 2128 Oxford Street through 2132-2154 Center Street in Downtown Berkeley, according to San Francisco YIMBY.
The project would include 10,000 square feet of ground-floor commercial space.
The rooms would range from micro studios to five-bedroom suites, and there would be a rooftop club lounge and deck, according to the report. The project would include 17 units set aside for “very-low-income housing,” to replace the existing rent-controlled apartments on site, the report noted.
A timeline for construction of the development has not yet been released.
The development would include parking for 63 vehicles via stackers and spaces for over 300 bicycles.
Core Spaces’ student housing-focused projects are scattered across the country. Last August, the firm filed plans for its second housing development near the University of Southern California campus. Some of its other student housing properties include Gainesville (University of Florida), Lexington (University of Kentucky), Tucson (University of Arizona), West Lafayette, Indiana (Purdue University, and East Lansing (Michigan State University) among other locations.
Institutional investors have also been moving into the student housing space, including some of the biggest real estate players in the business. Last month, Blackstone Real Estate Income Trust announced a $784 million joint venture with student housing developer Landmark Properties to acquire and recapitalize an eight-property, 5,400-bed student housing portfolio.
[SFYIMBY] — Victoria Pruitt