More student housing is coming to the University of Arizona campus area in time for the fall 2013 semester.
Chicago-based Core Campus Investment Partners LLC has purchased approximately 33,400 square feet of land at 1011 N. Tyndall Avenue for $3.85 million. At this time, details for the planned student housing development were not announced.
Core Campus focuses solely on student housing and uses its own in-house management staff.
The site is next to two high-rise student complexes being developed by Campus Acquisitions, also based in Chicago. Campus Acquisitions plans to open its luxury 14-story tower by August 2013 and a companion 13-story tower by August 2014.
The land that was acquired by Core Campus includes an approximate 21,000 square-foot, two-story building that formerly housed the Phi Kappa Psi Fraternity. The fraternity’s national headquarters revoked the local chapter’s charter in January 2012 over allegations of hazing and other issues.
The parcel was sold by Tucson-based Kiva-Star Partners LLC. Among its main members, public records list developers Bill Viner, Steven J. Shenitzer and Philip Pepper.
In the transaction, Core Campus was represented by Debbie Heslop of Volk Company.