Real Estate Journal — Owners, Developers & Managers — Architects & Engineers — July 29 - August 11, 2016 — 15B


M id A tlantic

A rchitects & E ngineers

The Lofts at Center Street is 3 stories and includes 20 apartment units with parking Lang Development Group awards Breckstone Architecture with student housing project N

limestone in appearance concrete block. Again the HVAC condensing units will be hidden from view behind the raised roof eliminating noise and unsightly mechani- cal equipment. The advent of these two projects follow a study refer- enced below which showed a continuing need for student apartments. The local devel- opers of student housing have indicated that they had little or no vacancy for the 2014 – 2015 academic year. The study in Newark, prepared by Urban Engi- neers, entitled “Rental Mar-

apartments on floors 2, 3, and 4 with parking occurring both under the building and along the sides and rear perimeter of the site. The apartment unit mix includes one and two level, 2 and 3 bedroom units, where all but three units in- clude balconies. North College Crossing is strategically located between the U of D north campus and Main Street and replaced the now demolished “Down Un- der” building known to all as a watering hole to multiple gen- erations of U of D graduates. The architectural materi- als include brick, stucco, and

EWARK , DE — Brecks t one Ar - chitecture has an- nounced their recent award of another student housing project by Lang Develop- ment Group directed at serving the University of Delaware students called The Lofts at Center Street. The building is 3 stories and includes 20 apartment units with parking. Also in- cluded within this project is an adjacent 2 story building housing a dental office on the first floor and 3 additional apartment units on the sec- ond floor. The project will be located on a quiet side street off of Main St. adjacent to the U of D campus. All parking for the 20-unit building will be un- der the structure in order to eliminate street parking and will provide interior access to the upper floors for students. All units have balconies off spacious living rooms. The unit mix includes multiple bedrooms and baths, washers and dryers, and galley kitch- ens with sit-down counters. The architectural materials will include stone, stucco and siding in a design to match the neighborhood look and feel of the area. All HVAC condensing units will be hid- den behind the raised roof further eliminating the com- pressor noise and visibility. The dental office and apart- ments above are designed to look like a stone residence, similar to the stone being used at The Lofts at Cen- ter Street. The project is scheduled to be complete by September 2017. The Lofts at Center Street falls on the heels of the North College Crossing project lo- cated at 60 North College Ave. also with Lang Develop- ment, currently under con- struction and scheduled for occupancy in the late Fall of 2016. North College Crossing designed by Breckstone, is a student housing mixed use project located next to U of D’s campus, which was ap- proved by the City of Newark in August 2015. The demoli- tion of the existing structure took place in September of the same year. The North College Cross- ing project consists of ap- proximately 6,000 s/f of re- tail space on the first floor (including a restaurant and a hair salon) and 33 student

ket Needs Assessment for the City of Newark” dated 1/13/15, in synopsis indicated that the average annual de- mand for off campus student housing from 2005 to 2013 increased 50 units/year. As it turns out, the largest fresh- man class in the history of the University was 4,150 students, which was 350 more students than planned. Also noted in the study, “In Fall 2016 when the vast majority of this freshman class will live off campus, an additional 71 units of off campus apartment units will be required…”

The University, which is planning upgrades and reno- vations over time to their existing approximate 7400 student dorm beds are not planning to increase the on campus dorm capacity in the near future. The study also noted that the highest de- mand for student apartment units are the newer projects (both multi-unit apartments and town houses) which can rent as high as $750 to $850 per bedroom. Thus, this ap- pears to be a market which will continue to grow as the U of D continues along its current growth path. n

The Lofts at Center Street Newark, Delaware


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