Topaz is bringing a new student residential housing off-campus to San Diego State University this fall.
The announcement was confirmed this week, making it official that the new residential and retail project will begin pre-leasing in August of this year.
Pierce Education Properties, an American private owner and developer of student residential housing, was chosen to develop the area by former owners of the location, a long-time-running McDonald's next to campus.
According to the joint venture collaborators for this project, the residential housing near campus will include 53 furnished units, and will also include four new retail tenants, such as Jimmy John's, Dunkin' Donuts, Handel's Homemade Ice Cream, and a new McDonald's in a new space.
And though the residential housing is set to open in the fall of this year, the four retails will be open by this summer of 2023.
As for the housing units, there will be apartments from one to four bedrooms, and they will all be leased per bed.
“Student residents will enjoy the spacious units and top-of-the-line amenities in immediate walking distance to campus,” said Fred Pierce, president and CEO of Pierce Education Properties, “and the businesses co-located in our building are expected to thrive.”
This student housing will feature a variety of amenities such as high-speed wifi, landscaped courtyards, a study and conference area, a spa, a lounge, a game room, a gym center, and a tanning booth.
“SDSU is expected to see enrollment growth of more than 15,000 new students over the next decade,” Pierce added. “Demand for student housing is expected to be even more robust due to the shortage of housing in the San Diego County market, coupled with rising fuel prices encouraging students to live in the limited inventory of housing somewhere they can walk or bike to the campus.”