$84 Million Project Will Deliver More Than 600 Beds for Ivy League Students
Camden, NJ, Oct. 5, 2020 — Michaels Student Living, the student housing development and management company of The Michaels Organization, is set to begin development of new graduate housing for Dartmouth College, after successfully achieving a financial closing for the $84 million project. Michaels Student Living was selected as the prestigious Ivy League college’s private sector partner through a competitive Request for Proposal process.
“We are excited to be working with Dartmouth College to deliver an affordable, sustainable community for their growing enrollment of graduate students,” said Ned Williams, Michaels Student Living Senior Vice President.
Site work has already begun on a portion of the 53 acres where the new housing community will be located, at 401 Support Road in Lebanon, New Hampshire. Surrounded by woodlands, the new student living community will offer 309 units in a four-story, wood frame, designed to accommodate more than 600 graduate students. The community will also feature a clubhouse, with gathering spaces, fitness facilities, mail and package delivery services and work and student spaces. The first phase of a two-phased development plan, this new community is slated to open in the summer of 2021 with the clubhouse followed by the four residential buildings for the 2022 academic year.
The Michaels Organization, a national leader in residential real estate, with full service capabilities in development, property management, finance and construction, entered the student housing market in 2007. Since then, Michaels Student Living has delivered innovative housing solutions for Rutgers, Camden, Rowan, and Kean University in New Jersey, as well as the University of California, Davis.
Other members of the development team on the Dartmouth project include the locally-based architectural firm, JSA Architects Interiors Planners, and the local office of VHB, serving as civil engineer and landscape architect. North Branch Construction, also based in New Hampshire, will serve as the general contractor. Michaels Student Living will provide on-site property management and facilities oversight for the community once the development is complete. Financing was provided by Harrison Street Partners, which has worked with Michaels Student Living on several on- and off-campus housing communities.
About The Michaels Organization: The Michaels Organization is a national leader in residential real estate offering full-service capabilities in development property management, construction, and finance. Serving 145,000 residents in more than 400 communities nationwide, Michaels is committed to crafting housing solutions that jumpstart education, civic engagement and neighborhood prosperity and to creating Communities That Lift Lives.
