Domus Development Plans $27 Million Student Housing Project for the New University of Texas Rio Grande Valley’s Edinburg Campus

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Dallas-Based Domus Development Will Break Ground in May at Legends Edinburg

This area of Texas is rapidly growing and having the chance to develop a community in near the new and improved University of Texas Rio Grand Valley’s Edinburg campus, offers us the opportunity to do something different.

A new $27.73 million luxury, off-campus student housing community is coming to University of Texas Rio Grande Valley’s Edinburg campus in August 2017. Domus Development, a veteran student housing development company based in Dallas, will break ground in May 2016 for Legends Edinburg, which will bring 566 beds to the market.

Located on the corner of Chapin Street and Sugar Road, just 1/10 mile from the Edinburg campus, Legends Edinburg will provide students with a wide range of amenities to create the best community for residents to live, study and play. Amenities include a salt-water resort-style pool, sand volleyball court, study rooms, a chic clubhouse with a game room, a computer lounge and more.

Residents will be able to choose from a variety of spacious floor plans including one, two and four-bedroom options. The individual apartments will come fully furnished with modern appliances, granite countertops, hardwood style flooring, ceiling fans, full-size washer and dryer and more. Residents will be able to sign individual leases, meaning they are only responsible for the rent of their individual bed, not the rent of the entire apartment. The entire property is also equipped with high-speed Wi-Fi, and will employ an on-site maintenance and management staff.

“This area of Texas is rapidly growing and having the chance to develop a community in near the new and improved University of Texas Rio Grand Valley’s Edinburg campus, offers us the opportunity to do something different,” said Eric Jakimier, owner of Domus Development and student housing industry veteran. “We really work hard to be architecturally sensitive to the areas we go in to and because of this, we are going to lean on some modern/Mexican architects who are personal heroes of mine. It’s going to really stand out in the marketplace and be very different from your standard, run of the mill project.”

Legends Edinburg will be the second purpose-built student housing community on the campus.

“We are catering to the diverse student demographic with Legends Edinburg,” said Jakimier. “Unlike most student housing communities, just over 30 percent of our apartments will be one-bedrooms, which will be a draw for the medical students who prefer the solidarity as the new medical program at the University of Texas Rio Grande Valley opens.”

Domus Development has hired Asset Campus Housing (ACH), the largest management and privately held student housing company in the U.S., to manage the community. This is the fifth project that Domus Development has brought ACH in to manage and lease up.

"We've worked closely with Eric on past projects and we are excited to partner with him again for Legends Edinburg," said Joe Goodwin, senior vice president of marketing for Asset Campus Housing. "This community will offer a unique atmosphere for its residents, tailored to fit their needs to help them be successful in school and in life."

Legends Edinburg will be ready for move in for Fall 2017.

About Domus Development
Dallas-Based Domus Development specializes in the development of student housing, both university-owned and privately owned communities across the U.S. Domus Development is highly experienced in all aspects of student housing development, from site selection, acquisition, due diligence, design consultant management, lender contract negation, negotiations with governmental agencies, construction management, project turnover and reporting to investors. For more information, please visit http://www.domusdevelopmentllc.com.

About Asset Campus Housing (ACH)
Headquartered in Houston, Texas, Asset Campus Housing, Inc. ("ACH") is an affiliate of Houston-based Asset Plus Companies, a third party property management firm specializing in real estate services for investors, developers, and owners. Asset Campus Housing manages a student housing portfolio of more than 176 properties, exceeding 115,000 beds located throughout the United States. http://www.assetcampus.com

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Melissa DiGianfilippo
Serendipit Consulting
since: 04/2010
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