The Green Student Housing Community Opens Adjacent to Utah Valley University
Featuring private single-occupancy rooms, walkable access to campus and leading-edge amenities, The Green on Campus Drive represents a new era and elevated standard of living for students at Utah Valley University.
OREM, Utah (September 1, 2020) – The Green on Campus Drive, a new state-of-the-art community geared for students, is open for the Fall 2020 semester, fulfilling a demand for student housing near Utah Valley University. The highly anticipated project, co-developed by PEG Companies (PEG) and Woodbury Corporation, is designed to meet the more sophisticated needs of modern-day college students.
Located adjacent to UVU at 499 W 960 S in Orem, The Green will consist of five buildings that house 1,604 students when the project is fully complete in 2021. This fall, the first two buildings–located on the north side of the project—opened for occupancy with many of the amenities expected to open in phases throughout September and October.
While project leaders of The Green intentionally designed the project to usher in a new era and elevated standard of living for modern-day college students, the recent COVID-19 pandemic has only reinforced the decision they made, years ago, to offer every resident their own private bedrooms.
“Our team did extensive research into the priorities of college students today, and we found that, even before the global pandemic, privacy was paramount when it came to student safety and comfort,” said Tyler Mahoney, development manager at PEG. “The basic, bare minimum standards that many student housing developers used to get away with building just don’t cut it anymore. Students today expect quality, and that’s what we committed to deliver.”
The Green will feature leading-edge amenities geared toward an active and social lifestyle including a luxury pool and three spas, outdoor ping pong, sand volleyball, an outdoor terrace and patios, a fully-equipped fitness center, a multi-purpose game room, a movie/gaming theatre, a reservable clubhouse, a conference room, a computer lab and more.
Redstone Residential, the property management group hired to lease and operate the community, continues to find creative ways to help residents safely get to know each other and cultivate a sense of community in a pandemic environment.
“Our shared mission for The Green is to cultivate happiness for all of our residents. Whether that be by creating a fun and enjoyable resident lifestyle or developing a clean and comfortable academic atmosphere, we’re always striving to enhance the life of our residents and the community,” said Ellie Hansen, regional manager at Redstone Residential.
Project leaders maintain that perhaps the best amenity of the entire project is the location.
“The Green will be a huge benefit to generations of students attending UVU,” said Taylor Woodbury, chief operating officer at Woodbury Corporation. “There has never been housing like this developed solely for students, in this close of proximity to the university. We believe it will add tremendously to the campus and college experience.”
In addition to providing a convenient housing opportunity for students, traffic studies have consistently shown that The Green will significantly improve traffic in the area. PEG and Woodbury Corporation are in the final phases of installing infrastructure for nearby traffic improvements and bore the cost of installing a convenient new pedestrian tunnel under Campus Drive among other community improvements.
About Woodbury Corporation:
Founded in 1919, privately-held Woodbury Corporation is one of the oldest and most respected full-service real estate development companies in the Intermountain West. Headquartered in Salt Lake City, Woodbury Corporation owns and manages over 14 million square feet of retail, office, hotel, residential, and industrial buildings across 15 states. For more information on Woodbury Corporation’s properties and projects, visit http://www.woodburycorp.com.
ABOUT PEG COMPANIES:
PEG Companies [“PEG”] was founded in 2003 and is now one of the fastest-growing commercial real estate investment, development and asset management firms in the West. PEG’s mission remains constant: create opportunities through grit, ingenuity and expertise – providing the premier real estate experience. The PEG team offers considerable experience in project design, engineering, financing, city entitlements, tax incentives, construction management, marketing and property management and offers a strategic combination of acquisition, rehabilitation and development capabilities. PEG owns and manages more than 5,200 hospitality keys across the U.S. and Canada with over 2,800 multifamily housing units and additional office, retail, and industrial space across the West. The firm sponsors multiple investment products on behalf of its investors and has produced net annualized returns of over 25% for the strategies it pursues. For more information about PEG, visit www.pegcompanies.com.
ABOUT REDSTONE RESIDENTIAL:
Managing in excess of 31,000 beds, Redstone is one of the largest student housing management providers in the country. Over the years, Redstone has distinguished themselves by successfully executing on difficult lease-ups, complex value-add strategies and unique asset repositions. Redstone operates boutique developments, resort-style projects and everything in between.