RISE Real Estate was chosen by the university in May this year as the preferred partner to deliver three new residential communities, adding 1,900 beds to the university’s housing inventory.
“The University of Tennessee, Knoxville, is thriving, and the development of these new residence halls will help us build a more dynamic on-campus student experience and meet the needs of a growing student body, while providing our students with affordable campus housing options,” said vice chancellor for student life, Frank Cuevas.
The approval means the university can now enter ground lease and management agreements with RISE and its subsidiaries to get the project off the ground.
Development advisory firm Brailsford & Dunlavey is working with UT Knoxville on the project.