Campus View Apartment Project Officially DefunctPermalink +
Thu, Nov 20, 2014, 8:15 am // Dick Conoboy
It's official! In an email to me this morning, Alex Eyssen, vice president for development of Campus Crest Communities, Inc., confirmed the plans of the organization to sell the property on which the Campus View apartments were to have been built. Mr Eyssen wrote: " Campus Crest is presently not proceeding with the student housing project. To the contrary, Campus Crest has recently announced its intent to sell this asset."
In fact, the company had issued a statement about this sale only hours before. The announcement can be found at the site of NJ.com. The press release dated 20 November reads in part:
"As a result of the Company's decision to discontinue its construction and development business, the Company is disposing of undeveloped land parcels held in the following student housing markets:
Allendale, Michigan (Grand Valley State University)
Bellingham, Washington (Western Washington University)
Boca Raton, Florida (Florida Atlantic University)
Charlotte, North Carolina (UNC-Charlotte)
Mt. Pleasant, Michigan (Central Michigan University)
Sacramento, California (Cal-State Sacramento)
San Angelo, Texas (Angelo State University)
Tempe, Arizona (Arizona State University)
Tuscaloosa, Alabama (University of Alabama)"
In particular it describes the Bellingham asset as:
15.25+/- acre site located at 800 Viking Circle, Bellingham, Washington
9.27-acre site is fully-entitled and fully-permitted for a 216-unit / 584-bed garden-style project
5.98-acre site is entitled for multifamily and/or student housing development
Near major retail centers and on existing municipal shuttle route
1.3 miles from Western Washington University"
The company had previously announced the sacking of its CEO about which I wrote two weeks ago in my piece, Lincoln Street Apartment Development May Be Abandoned. Plans for a separate apartment complex to the south of the Campus View project as well as for a commercial strip along the west side of Lincoln St. appear to be continuing. The cancelling of this particular project may come as a relief, albeit temporary, to the residents of the mobile home court on the east side of Lincoln St. who have substantial concerns about increased traffic, noise and other disruptions resulting from the overall development.
Thu, Nov 20, 2014, 8:15 am // Dick ConoboyCampus Crest Communities, Inc. has officially offered for sale the Lincoln St. property that was to be a student apartment development.
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