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Digested From “Company Brings New Vue to Campus”
Daily Cougar (06/11/13) Dahdouh, Mary
Fountain Residential Partners has begun building The Vue on MacGregor, a five-story building with nearly 350 beds, that will be the first privately owned off-campus community at the University of Houston. The Dallas-based company, which has completed more than $1 billion in student housing construction nationwide, expects to have the all-inclusive housing complex for students completed by 2014's fall semester. The apartments will include furniture, a 50-inch flat screen television, and a queen-size bed.
The Vue on MacGregor will differ from other housing options in that the university owns the land and leases it to a campus housing firm. Although the college will not have direct control of this new apartment community, it will still help it reach its Tier One goal of housing 25 percent of the students on campus. Breanna Larsen, executive vice president of the Residence Hall Association, remarks, "I'm excited because I think that the new complex will give students an opportunity for affordable living near campus, as well as a different style of living. Students can form networks and bonds from their school experiences but also feel like they are out in the real world, living on their own, and doing something for themselves."
Fountain Residential Partners has reportedly had its eye on the site for over five years. Company President Brent Little believes the timing is right to expand in the Houston market. He reasons, "It's a 41,000-student Tier One research institution. You look at the amount of new construction, the athletics, the education -- all of it is hitting the national radar." Students will lease by the bedroom and share common spaces. Rent will include everything from furnishings to high-speed Internet access.
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