Marlton, NJ, June 6, 2017 (Newswire.com) - University Student Living (USL), the student housing company of The Michaels Organization, has started construction of The 505 on Walnut, a new purpose-built student housing community located near Syracuse University.
University Student Living (USL) will develop, own, and manage 505 on Walnut, which is scheduled to open in August 2018. USL’s joint venture partner, Chris Geiger, Owner and President of Geiger Property Management Inc., is a graduate of Syracuse University. The well-established local company, Heuber-Breuer Construction Co., is the general contractor.
“New York State presented partnership opportunities that were well-suited for our company,” states Joe Coyle, President of University Student Living. “We have been very pleased with the success of our two other student housing developments in New York: Twenty91North in Amherst near SUNY Buffalo, and The Lodge, which opens this August near the Rochester Institute of Technology (RIT). We look forward to adding 505 on Walnut to our portfolio.”"We look forward to adding The 505 on Walnut to our successful New York portfolio."
The 126 unit, 363-bed student housing community will offer a selection of furnished studios, one, two, three, and four bedroom apartments. The community is leased by the bed rather than by the unit, allowing residents to be responsible for only their rent according to their individual lease agreement.
Featured amenities are gated and controlled access covered parking, private bedrooms and bathrooms, full-size kitchens, washers and dryers in each unit, fitness center, multiple study lounges, an outdoor courtyard, shuttle service, an interior dog wash station, and a café. Leasing information is available online at www.the505onwalnut.com.
About USL and The Michaels Organization
University Student Living is an independent operating company of The Michaels Organization, a family of companies dedicated to excellence in affordable, mixed-finance, military and student housing. Serving more than 135,000 residents in 370 communities across 35 states, the District of Columbia, and the U.S. Virgin Islands, The Michaels Organization is a national leader in the residential real estate industry, offering full-service capabilities in development, property and asset management, construction, mortgage finance, and tax credit syndication.
Source: The Michaels Organization