There are plans for a new hotel and a student housing complex in the hometown of Texas A&M University.
Drury Southwest plans to build a Drury Plaza hotel at 701 University Drive East in College Station. The location currently houses a local restaurant, Republic Steakhouse. The hotel is expected to occupy 102,000 square feet, but details are scarce. A Drury Southwest spokesman said plans were being finalized and information would be released in July. The project is estimated to cost nearly $20 million, though plans filed with the Texas Department of Licensing and Regulation are subject to change. Construction is expected to start in June and is expected to be fully completed in the third quarter of 2024.
Also in Aggieland, the Tailwind Group is backing plans for four student halls of residence. The $30 million construction project at 800 Marion Pugh Drive will cover 162,000 square feet and is the latest addition to a 28-acre, 30-building multifamily development, according to public records. Tailwind purchased the property in November from Philadelphia-based student housing company Campus Apartments. Brandon Bruell of Houston-based Berkadia brokered the deal.
The student housing project, called Campus Crossing College Station, will be Tailwind’s second property in College Station after the Minnesota-based company acquired Landing, a 444-unit resort-style student housing complex, in 2022. , and start fitting immediately. Representatives for Tailwind did not immediately respond to a request for comment.
Commercial real estate has been growing in ever-growing college towns. Home to the state’s second-largest university, multifamily housing projects have been on the rise, but not just for young adults.carbon company is Planning a Gated Senior Living Facility Since the college town has become a dream destination for retirees. 2022, Forbes names college town one of the best places to retireciting the relatively low median home price of $306,000 in 2022, which is 19% below the national median.
As city officials, revitalization and rebuilding have been at the heart of recent developments Seek to attract business and income presence. In December, University City Council approved the $9 million sale of nearly 30 acres in Midtown Business Park to Levcor Acquisition. Levcor also bought a double mall in the city last year, totaling 186,000 square feet.