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New Mixed-Use Residence Hall

Arizona State University Polytechnic

  • Location: Mesa, AZ
  • Deliver Year: 2020
  • Beds: 374
  • Size: 115,380 sq/ft.
  • Transaction Type: P3+ Private Equity
  • Construction Duration: 11 months
  • Unit Type: Suites
DESCRIPTION

Located on the ASU Poly campus, the new mixed-use student housing will provide 374 beds of housing in a mixture of private and shared bedroom suites, providing housing for both Barrett honors students and non-honors students attending ASU Poly. The building program includes a generous amount of common space aimed at providing a true live/learn environment. The first-floor common space includes a lounge and common kitchen. Additionally, each floor contains a large common area lounge to serve as the “living room” of that particular floor and to promote socialization of the residents. Each residential floor also has two more intimate, quiet study lounges. In addition to housing, the Project also provides approximately 8,500 SF of ASU Poly academic space that is located on the first floor and consists of two classrooms, multiple offices and conference rooms, and lounge space. The Project’s financing was arranged under Capstone’s P3+ private equity financial transaction model. The project’s total development budget is approximately $34.2M. Construction of the project broke ground in Summer 2019 and the project is scheduled to be completed by Fall 2020. The new housing will be maintained and operated by CDP’s management entity, Capstone Management Partners, in conjunction with ASU Department of Housing and Residence Life.