Gilbane and Palm Beach Atlantic University Finalize $240 Million Mixed-Use Student Housing Development in Downtown West Palm Beach

A major new development is set to reshape downtown West Palm Beach as Gilbane, in partnership with Palm Beach Atlantic University (PBA), has reached financial close on a $240 million public-private partnership aimed at expanding student housing and enhancing the city’s urban core. The project, approved by the Palm Beach County Board of Commissioners, will deliver a 25-story, mixed-use student housing tower at the intersection of Acacia Road and Dixie Highway, adding much-needed residential capacity for the university’s growing student population.

The 319,000-square-foot development will include 990 student beds across 275 apartment-style units, along with extensive amenities designed to enrich campus life and foster community engagement. Additional components include a 28,000-square-foot dining hall, a 14,000-square-foot fitness and recreation center, and an 8.5-level parking garage offering 704 spaces, as well as over 230 stalls for bicycles and e-bikes. The project is funded through revenue-backed bonds issued by Palm Beach County, ensuring no direct use of taxpayer funds.

“This project will provide more housing options for students and help ease pressure on the local housing market,” said Jeffrey Resetco, Senior Development Director at Gilbane Development. “We are committed to delivering state-of-the-art facilities that support student life and contribute to the broader vitality of downtown West Palm Beach.”

The initiative is a collaborative effort among multiple firms, with Gilbane Development serving as project developer, Gilbane Building as the design-builder, and Cube3 leading the architectural design. Urban Design Studio, Shutts & Bowen, and Kimley-Horn contributed expertise in planning, legal, and traffic engineering to secure entitlements and refine the project’s scope. The tower’s design draws from the architectural language and vibrancy of downtown West Palm Beach, aligning with city priorities for connectivity, sustainability, and walkability.

Gilbane, Inc., a private holding company with a more than 155-year history, is one of the oldest and largest family-owned construction, investment, and real estate development firms in the world. Gilbane Development is the project development, financing, and ownership arm of Gilbane, providing a full slate of real estate development and property management services. Gilbane Building is a full-service construction services firm providing preconstruction, general contracting, construction management, and design-build services on some of the nation’s most complex projects. Gilbane’s Public Private Partnership Group has delivered or has underway more than $4.4 billion in P3 projects for healthcare, higher education, K-12 schools, and federal/state/municipal clients.

Construction is slated to begin in summer 2025, with completion targeted for August 2027, in time for the 2027-2028 academic year.

PBA President Dr. Debra A. Schwinn emphasized the project’s significance for both the university and the surrounding community. “This transformative development reflects our commitment to whole-person education and our role in shaping downtown West Palm Beach, now recognized as Wall Street South,” Schwinn said.

The student-focused design incorporates a range of indoor and outdoor spaces to promote academic success, well-being, and social connection. Lounges for games, study, wellness, and relaxation will complement outdoor pathways and landscaped areas aimed at encouraging environmental mindfulness and community interaction. The pedestrian-friendly infrastructure includes ADA-compliant features, smart parking technology, and green elements to integrate the development within the city’s evolving urban environment.

Once complete, the project is expected to bolster student housing capacity, reduce off-campus housing demand, and support West Palm Beach’s ongoing growth as both an educational hub and a destination for investment and development.

Coastal Construction Tops Out University of Miami's Centennial Village Student Residence

Coastal Construction Group, one of the largest privately held construction companies in the Southeast, has topped out the University of Miami's Centennial Village, a state-of-the-art student residence that will accommodate over 2,000 students. Phase I of Centennial Village is anticipated to open in fall of 2024, with Phase II anticipated to open in fall of 2026.

This is the fourth construction project Coastal Construction has topped out for the University of Miami, including the Thomas P. Murphy Design Studio Building, which won the title of 2018 Building of the Year by World Architects.

The University of Miami’s Centennial Village, designed by VMDO Architects: Zyscovich Architects, is the second phase of a multi-year plan to modernize campus housing and will serve as a hallmark of the Coral Gables Campus and support the University’s efforts to competitively recruit top academic and athletic talent.

Made up of five residential colleges, Centennial Village will continue the successful First-Year Experience program with live-in faculty as well as professional and student staff who support and enhance the first-year experience. In addition to double rooms and an increased offering of single rooms, the new residential colleges will feature centrally located private bathrooms, shared resident lounges, and collaborative academic spaces.

Additionally, Centennial Village will be positioned to take advantage of the many outdoor and programmatic elements of the Coral Gables Campus surrounding Lake Osceola.

"As a former ‘Cane, I am especially pleased to celebrate the topping out of the University of Miami's Centennial Village. I started my construction career from a UM fraternity house when I was a student, so this project is particularly near and dear to me,” said Thomas P. Murphy, Jr., Founder, Chairman, UM alumnus and CEO of Coastal Construction Group.

Renderings via University of Miami

CA Ventures Acquires Student Housing Complex In Boca Raton For $80 Million

The Chicago-based CA Ventures has acquired The University Park student housing complex in Boca Raton for $80 million, roughly $503,000 per unit. The deal was financed with a $52.35 million Fannie Mae mortgage by Grandbridge Real Estate Capital. The seller was the New York-based Investcorp International who acquired the property in $70 million in 2016.

The University Park is located at 135 NW 20th St., near Florida Atlantic University, and was developed in 2015. The multifamily building sits on 10.7 acres and features 159 apartment units with 228,097 square feet of total development. Amenities include a resort-style pool, fitness center with boxing area, yoga studio, barbecue area, study rooms, 24/7 market, gaming area with pool table, a cell phone booster tower and free roommate matching.

Treo Group To Break Ground On Vox Miami, Multifamily Housing Targed At Students

Vox Miami, a multifamily project designed by Perkins and Will and developed by Treo Group, is gearing up to break ground at 5801 S Dixie Highway. The project is targeted at students and is located just a short walk from the South Miami Metrorail Station. Vox Miami will rise 8-stories and will feature 361 residences. The building will also offer a pool, rooftop terrace, fitness center and residents lounge. Pricing is expected to be even lower than the new student housing buildings on the University of Miami campus. Vox Miami will also feature a phase 2 with a proposed 10-story Class A office building and the entire project is expected to cost roughly $125 million to develop. Vox Miami’s multifamily component is expected to be completed by August 2021.

Metronomic Breaks Ground On TriniSuites Calle Ocho, Their New Off-Campus Student Housing Project In Little Havana

The Miami-based real estate development company Metronomic, Inc. has broken ground on TriniSuites Calle Ocho, an eight-story off-campus student housing building located at 2500 SW 8th Street in Little Havana. TriniSuites Calle Ocho will offer 30 turn key, fully furnished one- and two-bedroom student housing units ranging from 445 SF to 510 SF. The 20,788 SF building is designed by local architecture firm CLAD Architecture and Design. TriniSuites Calle Ocho part of a new seven building student housing community which will accommodate college students of Miami-Dade College, Florida International University (FIU), the University of Miami (UM) and numerous other colleges and universities, providing students with ease of access leasing, and a state-of-the-art student experience while filling the much-needed void for off-campus student housing throughout Miami. The decision to rent by the bed, co-living, or long term leases have yet to be determined.

Residents of seven TriniSuites buildings will have access to amenities including fitness centers, pools, rooftop garden/terraces, party/special-event rooms, student café’s, game rooms, a business center and more. The TriniSuites community will also offer a secure keyless entry system, 24-hour security, nearby public transportation, turn-key furnished units, and many other features and amenities designed to enhance student life. Metronomic, Inc. is also planning a student exchange and cultural immersion program for foreign students that will be incorporated into the TriniSuites community, to be announced at a future date.

“Metronomic understands there is a dire need for convenient student housing throughout Miami. The TriniSuites community is designed to help students easily secure quality housing while improving their quality of life and education,” said Ricky Trinidad, President of Metronomic. “The TriniSuites community and Metronomic are committed to enhancing education and student life in Miami, while benefiting the community of Little Havana and the City of Miami with quality new infill developments that create and produce impactful aesthetic, environmental, social and economic improvements.”

TriniSuites Calle Ocho is Metronomic’s third student housing building to break ground and will be centrally located, only one block from Miami Dade InterAmerican Campus in the heart of the historic Little Havana neighborhood. TriniSuites MetroPlace, TriniSuites MetroPark and TriniSuites Plaza Celia are currently under construction and expected to be completed by Spring and Summer 2019, while completion of TriniSuites Calle Ocho is slated for January 2020. All of the TriniSuites buildings are planned for completion by the first quarter of 2020.

University Bridge Residences Closes On $231 Million In Bond Financing

University Bridge GP, LLC, a partnership between between Miami-based Global City Development, RER Ventures and Toronto-based Podium Developments that is developing the off-campus 20-story student housing rental tower University Bridge Residences, has closed on a $231 million bond issuance. The bond represents the largest financing of its kind for an off-campus student housing building in the United States. University Bridge Residences is located directly across from Florida International University (FIU) where the funding will provide $50+ million in scholarships over 40 years to and as per the terms of the agreement, Florida International University will also take ownership of the building upon completion of the bond payments in 2058.

“Today’s bond issuance is a major milestone and an especially proud moment as we come one step closer to delivering a new residential and retail landmark for Florida International University and the surrounding neighborhood,” said Brian Pearl, Principal of Global City Development. “As the largest financing of its kind, it gives us enormous satisfaction that the bond investment community recognized the obvious need in the marketplace for student housing and that this project will benefit FIU for many years to come.”

University Bridge Residences broke ground in June 2018 and is being built by Coastal Construction Group and designed by Arquitectonica. Construction crews started the foundation last month, and the project is slated to be completed in time for the 2020-2021 academic year. University Bridge Residences will serve the school’s rapidly growing student population’s housing demand which is the fourth-largest university in the United States by enrollment, with more than 55,000 students, but only 8% of the student body lives in college owned, operated or affiliate housing. The project rises 20 stories and features 886 units along with 7,000 SF of commercial space.

“We specifically chose to use this method of funding to serve both the project and the community for generations to come,” said Diego Procel, Principal of Global City Development. “University Bridge Residences will introduce a new paradigm in the area and we are excited to welcome our student residents in the near future.”

Christopher Kallivokas, Managing Member of RER Ventures added, “This extraordinary project could only have happened with the cooperation, vision and foresight of the President and the Board of Trustees of FIU in conjunction with the City of Sweetwater Mayor and City Commissioners.”

University Bridge Residences Announces The FIU-Adjacent Development Will Now Be Retained As Rentals

University Developments has announced that its 20-story student housing tower University Bridge Residences, adjacent to Florida International University (FIU), will now be rentals instead of sold as a condominium as originally planned.  
 
A strong rental market for student housing combined with recent changes in United States tax legislation made retaining the unique asset incredibly compelling. University Developments has been processing its building permits since the fourth quarter of 2017 and expects to be able to break ground this spring. Delivery of the building is on its original schedule, anticipated in time for the 2020-21 academic year.
 
“Despite very impressive sales in an overall difficult condominium market, we have made the decision to retain this asset instead of selling it off to individual buyers,” said Brian Pearl, Principal of University Developments. “Cervera Real Estate, our exclusive broker, has done an amazing job, realizing more than 150 unit sales in the past six months. We were certainly on track on our projections, however, the option of retaining the asset is clearly the better scenario for us in the long-run.”
 
“We understand that developers have to make the best financial decisions available to them,” said Alicia Cervera Lamadrid, Managing Partner and Principal of Cervera Real Estate. “While we are disappointed that the units will not be sold as condominiums, especially with the tremendous response that we saw from both buyers and brokers, we are glad to see the project still going ahead and filling the obvious need in the marketplace for student housing. I am very proud of our sales team and thankful to the visionary brokers who have proven the viability of this concept here in our growing city. We are actively working to find alternative opportunities for their buyers given the change in the project’s status.”
 
“We have had a highly productive experience with Cervera and plan to work with them again and again,” concludes Pearl. “It is a rare opportunity where an asset is viable as both a sale and a rental, but the opportunity to retain the asset was the deciding factor.”

University Bridge Residences is being developed by University Developments, a partnership between Miami-based Global City Development, Toronto-based Reichmann International and Toronto-based Podium Developments. University Bridge Residences is bing designed by architecture and interior design firm Arquitectonica and will rise 20 stories and offering 492-units. 

Check out the renderings of the Arquitectonica-designed tower

Photos via University Bridge Residences

University Developments Unveils The Sales Gallery At University Bridge Residences

University Developments has officially unveiled their sales gallery after hosting a celebration in honor of the milestone on December 14, 2017. More than 150 of Miami-Dade’s leading real estate brokers, VIPs and community leaders joined the development team at its unique dome-shaped, contemporary sales center in welcoming Miami’s first student housing condominium, which will be located across the street from the main campus of Florida International University (FIU). Those in attendance received the exclusive first look preview at the project’s super-sized scale model, as well as viewed renderings and floor plans through their innovative app. The sales center also highlights the refined finishes offered to University Bridge’s future student residents in the sample model residence. The sales center’s unique dome structure brings a modern, sleek, contemporary look to the City of Sweetwater’s designated ‘University City’ district.

“We are very excited to formally open our doors and welcome those interested in this unique real estate project,” said Brian Pearl, principal of Global City Development. “The sales gallery is a reflection of the project’s uniqueness and has to be experienced to understand the value proposition being offered to buyers and brokers.”

University Bridge Residences is being developed by University Developments, a partnership between Miami-based Global City Development, Toronto-based Reichmann International and Toronto-based Podium Developments. The project will serve the school’s rapidly growing student population’s housing demand. Florida International University is the fourth-largest university in the United States by enrollment, with more than 55,000 students, but only eight percent of the student body lives in college owned, operated or affiliate housing. University Bridge Residences, which is bing designed by architecture and interior design firm Arquitectonica, will rise 20 stories and feature 492-units. Each turnkey unit depicted in the interior renderings comes fully furnished offering a multitude of residential features including complete kitchens, stainless steel appliances, washer and dryer in every residence, flooring throughout, and dedicated bathroom for each bedroom. Residences come a wide array of floorplans ranging in size from 317 square feet to 1,634 square feet, including studios, one, two, three and four bedroom units, as well as three and four bedroom townhouses. Prices range from the $190,000’s to the $600,000’s. Leasing is exclusively presented by Cervera Real Estate. Amenities include a large amenity deck with a landscaped recreational area featuring a resort-style pool with beach entry and pool volleyball with lap area, cabanas, sun deck with daybeds, BBQ and dining areas. The building’s rooftop will also feature a sunset terrace complete with dining areas, large yoga lawn and performance stage. The property also serves as a direct connection with the FIU campus and will allow residents to access the campus networks and online tools as if they were on campus. The project is scheduled for completion in time for the 2020-2021 academic year. 

The Arquitectonica-Designed University Bridge Residences Unveils New Renderings

University Developments released today a collection of new renderings of University Bridge Residences, a premier condominium purpose-built for student tenants located across the street from the main campus of Florida International University (FIU) (November 2, 2017). The new images of University Bridge Residences offer a glimpse into the amenities and interiors of Miami’s first student housing condominium. The renderings unveil the residential lobby and the project’s stunning amenity deck with a landscaped recreational area boasting a resort-style pool with beach entry and pool volleyball with lap area, cabanas, sun deck with daybeds, BBQ and dining areas. The building’s rooftop will also feature a sunset terrace complete with dining areas, large yoga lawn and performance stage. The property also serves as a direct connection with the FIU campus and will allow residents to access the campus networks and online tools as if they were on campus. 

Each turnkey unit depicted in the interior renderings comes fully furnished offering a multitude of residential features including complete kitchens, stainless steel appliances, washer and dryer in every residence, flooring throughout, and dedicated bathroom for each bedroom. Residences come a wide array of floorplans ranging in size from 317 square feet to 1,634 square feet, including studios, one, two, three and four bedroom units, as well as three and four bedroom townhouses. Prices range from the $190,000’s to the $600,000’s. Leasing is exclusively presented by Cervera Real Estate. 

University Bridge Residences is being developed by University Developments, a partnership between Miami-based Global City Development, Toronto-based Reichmann International and Toronto-based Podium Developments. University Bridge Residences, which is bing designed by architecture and interior design firm Arquitectonica, will rise 20 stories and feture 492-units. The project is scheduled for completion in time for the 2020-2021 academic year. 

“We’re thrilled to unveil the pool deck and interiors of University Bridge, which we specifically created with our residents in mind. We set out to elevate student housing by design, offering an array of specialized student furnishings and amenities that directly benefit residents’ day-to-day lifestyle and add value for condominium buyers,” said Brian Pearl, principal of Global City Development. “There’s a great demand for student housing at FIU, and University Bridge Residences is introducing a new paradigm in the area, benefitting both the local community and students who live there.”

“Student housing is one of the fastest growing asset classes in the world as university enrollments continue to trend upward,” said Alicia Cervera Lamadrid, Managing Partner and Principal of Cervera Real Estate. “We are very excited to be bringing this new product to our city with University Bridge Residences. Finally offering locals and our international clients an opportunity to participate in an asset class that has traditionally only been made available to institutional investors.”

Check-Out University Bridge Residences, The 1st Student Housing Condo Project in Miami Near FIU

University Bridge Residences, near FIU, has launched as the first student housing condominium project in the Miami market. University Developments introduced plans for the purpose-built residential condo development for student tenants located across the street from the main campus of Florida International University (FIU). The residences will have direct connection to campus via the new 8th Street pedestrian bridge. University Bridge Residences will rise 20 floors and feature 492 units. Units range from 317 SF studios to 1,634 SF 4-bedroom units as well as 3-bedroom and 4 bedroom townhouses. Prices range from $190K to the high $600K's. Residences will feature en-suite bedroom's with bathrooms as well as in-unit washer and dryers. University Bridge Residences will offer a stunning amenity deck with a landscaped recreational area boasting a resort-style pool with beach entry and pool volleyball with lap area, cabanas, sun deck with daybeds, BBQ and dining areas, a state-of-the-art fitness room, 24-hour concierge and security, a 5,500 SF indoor lounge and game room, study rooms, conference rooms, business center, outdoor video screen, sunset terrace complete with dining areas, large yoga lawn and performance stage. To aid in residents’ academic pursuits, students will enjoy complete access to all university online tools directly from their condominium, just as if they were on campus. Completion is expected in 2020. 

University Bridge Residences will serve the school’s rapidly growing student population’s housing demand as FIU is the 4th largest university in the United States by enrollment, with more than 55,000 students. Only a mere 8% of the student body lives in college owned, operated or affiliate housing. As part of the City of Sweetwater’s newly-designated University City, ownership of the units is open to all qualified buyers; however residents must be university affiliated. University Bridge Residences is being developed by University Developments, a partnership between Miami-based Global City Development, Toronto-based Reichmann International and Toronto-based Podium Developments. The project was designed by Arquitectonica and will be managed by Landmark Properties, one of the top US firms specialized in off-campus student housing.

“FIU has enjoyed tremendous growth in both students and reputation as one of the region’s top universities,” said Brian Pearl, principal of Global City Development. “As with many schools located within dense urban or suburban environments, there is a great need for housing. With its rapid growth, FIU has even more need than most, and we feel privileged to be part of the long-term solution.”

“This is a truly unique opportunity for condominium buyers looking to diversify their real estate portfolio,” said Alicia Cervera Lamadrid, Managing Partner and Principal of Cervera Real Estate, the exclusive sales and marketing brokerage for University Bridge Residences. “The project is ideally priced and the demand is compelling.”