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Press Release

Aug 15, 2017 18:51 UTC

University Bridge Residences Launches; Development Will Be Integral in Fostering Additional Growth at Florida International University

MIAMI--(Business Wire)--University Developments today introduced plans for the development of University Bridge Residences, a premier condominium purpose-built for student tenants located across the street from the main campus of Florida International University (FIU).

With a direct connection to campus via the new 8th Street pedestrian bridge, University Bridge Residences will serve the school’s rapidly growing student population’s housing demand. Florida International University is the fourth-largest university in the United States by enrollment, with more than 55,000 students, but only eight percent of the student body lives in college owned, operated or affiliate housing.

University Bridge Residences comprises of 20 floors, 492 units, and a dedicated connection to the pedestrian bridge from the building providing a secure, direct route to the campus. Scheduled for completion in time for the 2020-2021 academic year, the residences will be fully finished inclusive of specialized student furnishings. Each unit will have its own washer and dryer as well as a dedicated bathroom for each bedroom.

Offering a wide array of floorplans ranging in size from 317 square feet to 1,634 square feet, the residences include studios, one, two, three and four bedroom units, as well as three and four bedroom townhouses. Prices range from the $190,000s to the high $600,000s.

The project is being developed by University Developments, a partnership between Miami-based Global City Development, Toronto-based Reichmann International and Toronto-based Podium Developments. Acclaimed architecture and interior design firm Arquitectonica designed the project while Landmark Properties, one of the top US firms specialized in off-campus student housing, will manage the property once completed.

Global City has developed over $2 billion in real estate within the USA and abroad, while Reichmann International is renowned for large international projects such as New York’s World Financial Centre and Canary Wharf in London. Podium Developments has over a decade of expertise in the student housing arena.

“FIU has enjoyed tremendous growth in both students and reputation as one of the region’s top universities,” said Brian Pearl, principal of Global City Development. “As with many schools located within dense urban or suburban environments, there is a great need for housing. With its rapid growth, FIU has even more need than most, and we feel privileged to be part of the long-term solution.”

“This is a truly unique opportunity for condominium buyers looking to diversify their real estate portfolio,” adds Alicia Cervera Lamadrid, Managing Partner and Principal of Cervera Real Estate, the exclusive sales and marketing brokerage for University Bridge Residences. “The project is ideally priced and the demand is compelling.”

As part of the City of Sweetwater’s newly-designated University City, ownership of the units is open to all qualified buyers; however residents must be university affiliated.

University Bridge Residences will offer a stunning amenity deck with a landscaped recreational area boasting a resort-style pool with beach entry and pool volleyball with lap area, cabanas, sun deck with daybeds, BBQ and dining areas, a state-of-the-art fitness room, and a 5,500-square-foot indoor lounge and game room. The building’s rooftop will also feature a sunset terrace complete with dining areas, large yoga lawn and performance stage.

To aid in residents’ academic pursuits, students will enjoy complete access to all university online tools directly from their condominium, just as if they were on campus.

Other student-focused amenities include shared study areas on each residential floor, a business center complete with four fully equipped conference rooms, and an outdoor video screen that can show movies or sporting events.

An on-hours concierge will be available in the main lobby for the convenience of residents while security staff will be on hand 24-hours. University Bridge will also offer approximately 7,000 square feet of ground floor commercial space available for future retail or restaurants curated to support the student residents’ needs and lifestyle.

Located at 740 SW 109th Avenue, University City, Sweetwater, an on-site sales center is currently under construction and will open in September. For more information, please visit www.UniversityBridge.com.

About University Developments:

University Developments is a partnership between Global City Development, with headquarters in Miami and over $2 billion in real estate developed in the USA and internationally; Reichmann International, with a worldwide reputation for excellence in large international projects including First Canadian Place (Toronto), World Financial Centre (New York), and Canary Wharf (London); and Podium Developments with over a decade of expertise in student housing and dozens of successful projects completed in the Greater Toronto Area and Southern Ontario, Canada. For more information, please visit www.university-developments.com.

For University Bridge Residences
Israel Kreps, 305-663-3543
ikreps@krepspr.com
or
Ansley Campbell, 305-663-3543
acampbell@krepspr.com