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February 22, 2018
Off campus: Student housing is hot in Tallahassee

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Stadium Centre includes 365 apartments.

Northwest Florida roundup

Off campus: Student housing is hot in Tallahassee

Wendy Dixon | 10/28/2014

Student housing in Tallahassee has become a major focus for real estate firms and developers. Collegium Capital Partners, a joint venture based in West Palm Beach, paid $43.5 million for four apartment complexes rented primarily to students. The complexes encompass 1,000 apartments with 3,155 beds. The company plans additional spending to renovate the units and clubhouses.

The acquisition brings Collegium’s overall portfolio to some 6,000 beds, according to the company, which also owns properties in Texas, Alabama, Arkansas and Kansas. The company says it plans additional purchases this year and intends to “grow its holdings into one of the largest privately held student housing portfolios in the country.”

Meanwhile, in Tallahassee’s Gaines Street district near FSU’s Doak Campbell Stadium, developers North American Properties and Uptown Rental Properties opened a $114-million complex of three buildings called Stadium Centre. The project includes 365 units with 710 beds and more than 30,000 square feet of retail. The Stadium Centre units are among nearly 1,000 expected to be finished in Tallahassee this year. More than 900 apartments were built in Tallahassee in 2013.

Each Stadium Centre apartment building offers furnished one- to four-bedroom units for students and young professionals with rent starting in the low $700s. Amenities include resort- style pools, sand volleyball courts, a grilling area, an indoor club room with a cyber cafe and a two-story fitness center.

The developer plans to break ground on an additional $20-million, mixed-use building in November with 44 more apartments, according to the Tallahassee Democrat. The Gaines Street area, formerly industrial, has been transformed by development in recent years, spurred by tax abatement funding through the Community Redevelopment Agency. Current plans for the area include a site for a grocery store.

Profile Goldring Gulf Distributing

Beverage distributor Goldring Gulf Distributing handles beer and soft drink sales in 10 counties in northwest Florida, representing 75 suppliers, including Heineken, MillerCoors, Red Bull and Dr. Pepper Snapple Group. The company is finalizing construction of its new facility at the Santa Rosa Industrial Park in East Milton and is combining the Fort Walton Beach and Pensacola facilities, continuing operations at the Panama City plant. The $18-million project includes a nearly 200,000-sq.-ft. warehouse and will have 220 employees and 2,200 retail accounts.

Players

Al Stubblefield, former CEO of Baptist Hospital, is the new president of Re- Entry Alliance Pensacola, a non-profit corporation providing assistance to moderate and high-risk former inmates re-entering Pensacola and its surrounding communities.

Rick Harper, the University of West Florida’s assistant vice president of economic development, is also director of the Studer Institute, a result of a partnership between the two institutions. Harper will help supervise the institute’s staff and work while continuing to serve as the director of the university’s Office of Economic Development and Engagement.

Lisa Marie Assante is the chair of the University of West Florida’s new Department of Hospitality, Recreation and Resort Management. She previously was associate professor of management, marketing and hospitality at Southern Utah University in Cedar City, Utah.

Business Briefs

APALACHICOLA — The owners of Apalachicola’s Up the Creek Raw Bar opened a new restaurant — the retro-inspired Up the Stairs. > The Apalachicola Bay oyster industry will receive $6.3 million from the National Atmospheric and Oceanic Administration to be used to fund oyster restoration and job training for out-of-work oystermen.

CRESTVIEW — Between July 2013 and July 2014, Crestview logged one of the biggest gains nationally in construction jobs. The largest percentage gains were in Lake Charles, La. (27%, 2,900 jobs), Crestview-Fort Walton Beach-Destin (26%, 1,000 jobs) and Monroe, Mich. (23%, 500 jobs).

NORTHWEST FLORIDA — Site Selection magazine named Gulf Power one of the top 10 utilities in the nation for economic development — an annual list based on economic development programs utilities offer to help create jobs. Duke and FP&L also were named.

PANAMA CITY — Technology infrastructure firm Maxis360, based in Fernandina Beach, acquired Panama City company Inacomp, which specializes in data management, network infrastructure and other technology services. Inacomp has 15 employees.

PENSACOLA — VT Mobile Aerospace Engineering agreed to a 30-year lease of an aircraft hangar to be built by the city of Pensacola on about 19 acres at Pensacola International Airport, anticipating 300 new jobs with an average annual salary of $41,000. > Pensacola entrepreneur Ray Russenberger plans to build a 10-unit condominium development at the historic wharf within walking distance of downtown restaurants, shops and Bayfront Stadium. > Marcus Point Golf Club, with a clubhouse and restaurant, will close at the end of the year. The restaurant, Iron, will move downtown.

TALLAHASSEE — Capital Regional Medical Center plans to add a behavioral health facility.

Tags: Northwest

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