The Preiss Co. and FD Stonewater have secured joint venture equity for the development of two student housing communities: Signature on Varsity and Signature on Grand. These projects will cater to the growing student populations at North Carolina State University and the University of Tennessee.
JLL worked on behalf of The Preiss Company and FD Stonewater to secure the equity partner.
Signature on Varsity will be a 221-unit, 679-bed community located at 1406 Varsity Dr. in Raleigh, N.C., adjacent to North Carolina State University. The property will offer studio to five-bedroom units averaging 1,166 square feet. It is located within walking distance of NC State's main campus and the university's new Innovation District, a 30-acre mixed-use research development. The student housing community is strategically positioned to capture growing enrollment at NC State, which has increased by more than 3,000 students since 2015.
Signature on Grand in Knoxville, Tenn., wil
