Mainstreet Launches Student Housing Arm
Carmel-based Mainstreet is getting into the student housing business. The national real estate developer known for its transitional care properties, expects Vita to “transform” collegiate life.
“Our mission at Mainstreet continues to be transforming lives, and as a result, we look at businesses where there is great opportunity to effect change and real need for innovation. When you look at the similarities between the health care and student housing products nationwide, there is tremendous potential for us to make an impact with Vita. Our goals remain – to positively disrupt industries to improve the consumer experience, moving them from the intolerable to the desirable,” Mainstreet Founder and CEO Zeke Turner said.
Mainstreet says its first student housing project will be a phased development partnership at Warner University in Lake Wales, Florida. The first phase of the project will feature 25 units and 100 beds.
“The traditional college dorm model is going by the wayside in favor of more unique housing options on campus. What makes Vita different is we are partnering with universities to blend dorm life and apartment life. This particular project at Warner will give students a blend of the academic and social cultures and environments they want, and in turn, keep them on campus longer,” Vita Director of Development Justin Farris said.
A groundbreaking ceremony is set for December 1 on the school’s campus. The project is expected to be finished in August 2016.