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The co-developer of The Independent, which is slated to become the tallest building in Austin, is witnessing their latest project come to life near the University of Texas campus. They've partnered with Grand China Overseas Investment Management Ltd. to execute a $60 million USD student housing tower at 1909 Rio Grande Street.
The first student housing project for the developer in its hometown, Aspen West Campus will contain 464 beds spread across 166 units. Students will enjoy an amenity deck situated on the sixth floor, where a fitness centre, game room, study lounge, and pool will await use upon delivery in fall 2018. Among the 22 residential projects across the United States that Grand China has funded, Aspen West Campus is the company's first investment in student housing.
Consistently strong demand has fuelled high rents and occupancy in West Campus, which has grown to become one of the most walkable neighbourhoods in Austin. A number of colourful buildings populate the area, a direct result of zoning changes that sought to boost the student populace. Approximately 2,400 apartment and condominium units were built over a five-year period ending in 2009.
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