COLUMBUS, Ohio (PRWEB)
May 19, 2022
Today, LV Collective, an Austin-based multifamily and student housing developer, announced it has closed on a development located at 222 W. Lane Ave, across the street from The Ohio State University campus. The seven-story multifamily, student-oriented building will consist of 379 units and 885 beds. The building is scheduled to deliver in fall 2025.
Ideally located, LV Collective’s project is a short three-minute walk from the main quads of the university and half a mile from Ohio Stadium. The pedestrian-focused student housing project will also reimagine the Lane Avenue corridor, adding connectivity and activation to the university, restaurants, bars and entertainment nodes.
“Our building’s location lies at the intersection of academic life and entertainment for The Ohio State University, placing it at the epicenter of the community and within walking distance of the destinations our residents and their guests will frequent,” says Chris Johnson, EVP Development at LV Collective. “By delivering a high-quality, thoughtfully-designed development with top-tier amenities and sweeping views of the campus, we are providing the perfect location to embrace the academic rigor needed at Ohio State with the balance of lifestyle and experiential pursuits.”
The project will consist of five floors of residential units, including spacious two-level townhomes with private at-grade entries. There will also be an indoor-outdoor café at the ground level, including an elevated private study area. Amenities will include a gym with indoor-outdoor fitness areas, a third-story pool deck with jumbotron and a view of the stadium. The top floor features wellness offerings, including yoga and meditation with expansive southern views over the campus and downtown Columbus.
This is LV Collective’s first development in Ohio and adds to the company’s growing roster of multifamily and student-oriented buildings across the country. Most recently, LV Collective announced a seven-story project at 558 West Broad in Athens, GA and a 10-story, 502-bed project in Gainesville, FL. LV Collective is best known for its successful multifamily, student-oriented developments in Austin, Texas, including The Ruckus, The Ruckus 2.0, Moontower and Waterloo.
OZ is the design firm and Variant Collaborative will work on interior design. Local project partners include Columbus-based landscape architect Realm Collaborative, general contractor Elford, Inc., and the civil engineer E.P. Ferris.
“This development epitomizes our investment strategy of finding well-located, institutional quality opportunities within student housing. We are excited to partner with LV to provide a preeminent, pedestrian student housing asset at a high-quality Tier I institution,” says Christopher Kott, Director — Acquisitions at Virtus Real Estate Capital.
About LV Collective
LV Collective is an Austin, Texas-based real estate investment firm focused on acquiring, developing, and managing high-quality real estate in superior locations throughout the United States. Since its founding in 2012, LV Collective has expanded the business to include student housing and multifamily assets in excess of $3.0 billion. For more information, visit: https://lvcollective.com/overview. For renderings, logos, headshots and additional media assets, visit https://lvcollective.canto.com/.
About Virtus Real Estate Capital
Virtus Real Estate Capital, founded in 2003, is a hands-on, data-driven, curious investor that delivers compelling outcomes from cycle-resilient investments for all stakeholders. Through thoughtful evolution and resilience in challenging times, Virtus has purposefully worked to foster thriving communities that empower people to live better lives. Over the last 19 years, it has acquired 262 properties for a combined acquisition value of over $5.1 billion and has fully realized 187 property investments. With a strong and established track record, Virtus has proven to be successful in all phases of the market cycle. For more information, please visit virtusre.com.
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