Miami, FL
With sweeping views of Biscayne Bay, this luxury student housing community offers an academically focused environment that helps students learn and grow outside of the classroom. The ground floor is a common space with classrooms, offices, laundry room, game room, fitness center, computer lab, conference room, and a multi-purpose club room with a community kitchenette. The ninth-floor Sky Lounge serves as a study hall and events center.
Bayview is Green Globe Certified, with technologies such as: Energy-efficient windows with reflective low-e coatings; low-flow and water-efficient plumbing fixtures; Energy Star appliances; energy-efficient lighting; and durable and easy-to-maintain finishes. FIU received $375,000 for the upfront ground lease payment and the project will generate $138M for the University over the 30-year ground lease. Servitas provides full operations and management of Bayview, with the University responsible for billing.
Institution
Public
Progress
Completed
Size
410 beds/152 units
162,974 GSF
Project Timeline
Start: March 2015
Completion: August 2016
Transaction Structure
Tax-exempt revenue bonds
(permanent lender)
Cost
$58,287,000
Key Team Members
Architect:
PGAL
General Contractor:
Facchina
Financing:
Raymond James
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