ASU and GCU expand housing as growth in Phoenix continuesNov 06, 2020
Grand Canyon University Residence Halls
Grand Canyon University is planning to build three more residence halls at it's Phoenix campus on the corner of Camelback and 35th Ave. The project will be part of $100 million in capital expenditures planned for 2020.
According to bizjournals.com, the residence halls will be financed from the nonprofit Christian university's cash reserves. Each building will be 6-stories tall and totaling in more than 242,000 sq ft. There will be 600 single-occupancy sleeping units at each hall, with suites typically consisting of 4-bed, 2-bath living spaces.
While the projects below are targeting mostly staff and graduate students, these units are being provided primarily to senior students who would like to remain on campus as they finish out their degrees.
GCU's project will be called The Rivers. and the university already has future plans for connecting their campus with its commercial hub (27th Ave. and Camelback Rd) which houses it's hotel, restaurant, and student services center. GCU plans to grow the campus to 400 acres in coming years.
The three dorms bring the total number of residence halls on campus to 27, with the capacity to house approximately 16,000 students. (Photo from GCU)
Arizona State University is building similar student housing as part of their downtown Phoenix campus. It appears that demand severely outweighs what is currently available with some stating that housing could not be going up fast enough. ASU's Society Phoenix will feature 330 rooms within a 20-story tower (photo from PMG).
Akara Partners LLC has almost completed their multifamily project called Kenect Phoenix. This project is a 23-story high rise on Central which consists of 320 units of housing. In an effort to accommodate the surge in young professionals and students in Phoenix, 10% of tenants can rent out individual rooms. Most living spaces are 3-bedroom units. This project is on track to open on Nov. 14th according to bizjournals.com.
Akara Partner CEO, Rajen Shastri expects Kenect Phoenix to be leased up within a year.