Transactions


Texas State University Phase 3 – Student Housing
The student housing project at Texas State University is one of five projects in Aspen Heights 2014, LP a partnership in which Silverado invested with Aspen Heights. This is the development of a 749 bed cottage-style student housing development in Ames, IA. It is a 15 acre site and is less than two miles from the Texas State University campus.

Texas State University has experienced tremendous enrollment growth over the past five years adding nearly 5,500 students. Growth is expected to continue, although at a more modest pace. Existing comps range from low-quality, garden-style product to high-end cottage developments. Market occupancy remains above 95% despite the delivery of multiple new projects in recent years. Aspen Heights’ garden-style development would be priced aggressively and likely below the average rate of similar properties.

Texas State University’s student population has grown 45% since 2001.
Enrollment Information
Undergraduate: 28,959
Graduate: 5,128

Market Statistics
Overall Area Occupancy: 98%
Average Rent: $573