On our continued coverage of the developments near Martin Luther King Jr. Boulevard, we’re taking a detailed look into the recent sale of the plot of land off Selma Street and Martin Luther King Jr. Blvd. Rhett and Tyler Mouchet of Judge Commercial announced in late April that the plot had been sold to the development company CampusWorks.
CampusWorks is a nationally recognized developer and builder of student housing apartment communities. With properties all across the Southeast, they are one of the leading development companies in student housing.
Steve Helfrich, vice president of business development for CampusWorks, has confirmed their plans to develop that area into the perfect center where student housing can interact with downtown life.
“We saw an opening in this market for this type of development with a certain demographic being underserved. This is purpose built student housing that will meet the needs and exceed the expectations of the Savannah student population.”
The construction has already begun on the plot with completion scheduled for fall of 2016. This 5 story building will be home to 1-5 bedroom units, and will include amenities like 24-hour security, a pool, fitness center, an art gallery and more.
Much like most of MLK Jr. Blvd, the area has seen quite a bit of transition over the years, “The property was formerly the transportation center for CSX Railroad which played a major part of controlling intersections and scheduling their trains in the Savannah area. Technology made the center ‘outdated’ and the property became the center of vandalism and vagrant occupants.” said Rhett Mouchet, lead broker in the transaction along with his son Tyler.
The incoming facility will be a state-of-the-art student housing with mass and height approved by the Historic Review Board. It is anticipated in a few years that the removal of the overpass will enable the facility to sit on a tree-lined boulevard in the middle of Savannah’s new mixed use commercial district.
Since its founding in 1999, CampusWorks has experienced extensive growth, with a combined student housing portfolio exceeding 13,500 beds in Acquisition, Development & Construction. Additionally CampusWorks has a joint venture ownership interest in over 7,200 student housing beds in 15 university markets in excess of $500 million. They are an ideal candidate to help ensure the success of enriching the area with new life and vibrancy.
With key developments such as this, Savannah and the MLK Corridor have certainly been placed on the map and are headed for a bright and unique future. Look for further details on the design, layout and interiors of the development officially named, The Blake.
Judge Commercial now manages over 60 commercial units and has been the leading brokerage company to streamline the major developments on Broughton Street, Liberty Street and Martin Luther King Jr. Boulevard selling over $66 million last year.