Premier, an end-to-end architecture, design, procurement, project management, and development firm, is excited to announce that the firm will spearhead renovations of a student housing property in Tampa, Florida. The Dallas-based team will collaborate closely with a joint venture between the CBRE Investment Management and GMH Communities, which recently acquired the property, known as Venue at North Campus.
Premier will spearhead the redesign for the Venue at North Campus, focusing on value-add elements such as appliances, countertops, cabinets, furniture, paint, and fixtures. The firm also plans to bring contemporary changes to living units and amenities, with a focus on refreshing the pool area with a jumbotron, redesigning the dog park, and integrating a dedicated space for food truck dining near the convenience store.
Premier is leveraging its expertise in the student housing market, which is experiencing robust growth. Favorable conditions, including a positive economic environment and increasing enrollments driven by potential developments in the University of South Florida football program, is fueling student housing demand in the Tampa market.
“While many asset categories face negative rent growth, student housing is consistently achieving robust rent increases, often reaching high single-digit to low double-digit percentages year over year,” said Ryan Kimura, Senior Vice President, Strategic Partnerships at Premier. “The economic rationale for investing in student housing is favorable, presenting a solid opportunity for investors. Premier is thrilled about contributing to the transformation of Venue at North Campus and is committed to delivering a reimagined, modern student housing experience.”
The project’s model room is currently in the design phase, with the bulk of the design work (common areas and exteriors) slated for Q1 2024. Construction is planned to start early next year and will continue through the summer.
