Texas Wesleyan University is putting another piece of the "Rosedale Renaissance" into play, a planned student housing community on campus that, when complete, will serve more than 100 residents starting in Fall 2022.
The student housing developer Panteras Development Partners and Miyama USA Texas have entered a long-term ground lease with Texas Wesleyan at 3228 E. Rosedale St., the developer and university said.
Panteras will build a 56-unit, 101-bed single-building community. Miyama Texas is providing the equity and will own and operate the property. The one and two-bedroom units will be less than minute from the university's heart. The property will include private, gated parking and "plenty of amenities designed for the modern student," the development group and Texas Wesleyan said, calling the project "another modern touch to the Rosedale Renaissance."
Texas Wesleyan - with help from the City of Fort Worth - has pumped millions of dollars in recent years into improvements along East Rosedale Street, as part of a long-term plan to boost the university and its surrounding Poly neighborhood. The additional on-campus housing is part of the plan.
“We are extremely pleased to partner with Miyama USA Texas and Panteras Development in providing our students with such a unique living experience,” Fred Slabach, president of Texas Wesleyan, said in a release. “The welcoming, sophisticated environment of the student housing, in a location that allows students to be fully integrated with the campus community, will raise the bar for student living at Texas Wesleyan while fulfilling our strategic vision by enriching our students’ campus experience.”
The development group received input from current Texas Wesleyan students in designing the project.
Amenities in the building will include student lounges with large-screen televisions and dedicated study areas. Students can choose to have a fully furnished apartment. The common areas will feature "wood-style" flooring in the common areas, washer-drier in the units. "high-end finishes, first-class appliances and cable and high-speed internet," the developers and university said in the release.
“We are thrilled to be part of Texas Wesleyan’s long-term vision for growth and advancement as one of the top-tier private universities in the state,” Takeharu Miyama, CEO of Miyama USA Texas, said in the release.
“We took great care to design plans for a development that is a good fit for the neighborhood and for the university,” said Alex Bryant, co-founder, and managing partner of Panteras Development Partners. “Our team’s experience and close interaction with Texas Wesleyan, culminated in the unique plan for this challenging development site.”
Alex Bryant, and Jake Proctor, co-founders, led the project for Panteras. Overseeing funding and management of the community are Takeharu Miyama, CEO, and Sawako Miyama, president and COO of Miyama USA Texas, are leading funding and management of the community. The architect is Steven Halliday, partner with 97w.
Miyama USA Texas is based in Dallas and owned by Japan's Miyama Family. The company invests in and develops high-end student housing projects serving private universities in Texas. The firm also is slated to develop a 30-story, mixed-use office project with KDC overlooking Klyde Warren Park in Dallas’ Uptown. The project is scheduled to break ground in the first quarter of 2021, Miyama USA Texas said.
Panteras Development is a Fort Worth-based real estate firm that offers student housing, development, acquisition, and consulting services.