case study

Developing an Amenity-Rich Student Asset

Northside, University of Texas at Dallas
Richardson, Texas

Lacking a campus downtown and needing to support steadily growing enrollment, the University of Texas Dallas commissioned Balfour Beatty to design, build, finance and operate a mixed-used student housing community totaling 595 beds in Phase 1 and 900 beds in Phase 2, as well as 13,400 SF of retail via Public-Private Partnership. Phase 1 was delivered in the fall of 2016, earning the Richardson “Edge Award” as the Commercial Real Estate Development of the Year. Phase 2 was delivered in the fall of 2018.

Northside residents enjoy a unique live, work, study and play environment with amenity-rich spaces including resort-style pools and lounge areas, indoor/outdoor fitness center, sand volleyball court, sky lounge, study areas, movie theatre, coffee-bar and a 343 space parking garage, as well as a secured surface parking area. Floor plan offerings include furnished and unfurnished studio, one-, two-, three- and four-bedrooms in mid-rise apartment and townhome style homes.

Northside Phase I and 2 was delivered 100% preleased and has remained 100% occupied with a waitlist since delivery. The operating pro forma budget exceeded pre-construction projections by 10.6%. Excellent occupancy history coupled with well-managed operating expenses by Balfour Beatty allowed for aggressive loan sizing and attractive valuation on recapitalization.

Full Story
Before and After
PHASE 1 & 2