First-time developer plans $24M boutique hotel in the Heights
Hotel, multifamily planned in College Station
Commercial real estate has been on the move in the home of Texas A&M University
A new hotel and a student housing complex are planned in the hometown of Texas A&M University.
Drury Southwest plans to build a Drury Plaza hotel at 701 University Drive East in College Station. The location currently houses a local restaurant, the Republic Steakhouse. The hotel is expected to span 102,000 square feet, but details are sparse. Plans are being finalized, and information will be released in July, a spokesperson from Drury Southwest said. The project is estimated to cost nearly $20 million, although plans filed with the Texas Department of Licensing and Regulation are subject to change. Construction is expected to start in June, with full buildout expected in the third quarter of 2024.
Also in Aggieland, Tailwind Group is behind plans for a four-building student housing complex. The $30 million construction project at 800 Marion Pugh Drive will span 162,000 square feet and be the latest addition to a 28-acre, 30-building multifamily development, according to public records. Tailwind bought the property from Philadelphia-based student housing company Campus Apartments in November. Brandon Bruell from Houston-based firm Berkadia brokered that deal.
The student housing project, named Campus Crossing College Station, will be the second of Tailwind’s College Station properties after the Minnesota-based firm acquired the Landing, a 444-unit resort-style student housing complex, in 2022 and immediately began renovations. Representatives for Tailwind did not immediately respond to a request for comment.
Commercial real estate has been on the move in the growing college town. As the home of the state’s second-largest university, multifamily projects have been on the rise, but not just for the youth. Carbon Companies is planning a gated senior-living facility as the college town has become a desired destination for retirees. In 2022, Forbes named College Station one of the best places to retire, citing comparatively low median home prices, which sat at $306,000 in 2022, 19 percent below the national median.
Revitalization and redevelopment have been at the core of recent developments as city officials seek to attract the presence of businesses and revenue. In December, the College Station City Council approved the $9 million sale of a nearly 30-acre tract in the Midtown Business Park to Levcor Acquisition. Levcor also purchased dual shopping centers in the city last year, totalling 186,000 square feet.
Levcor enters College Station with two new acquisitions near A&M
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