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Sat November 28 2020

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Balfour Beatty lands £125m deal for Texas student digs

25 Sep 13 Balfour Beatty is to develop a second student accommodation project for The Texas A&M University System, this time at the main campus.

The project follows one at Tarleton State University
The project follows one at Tarleton State University

The project is a collaboration between Balfour Beatty Campus Solutions – which will be lead developer - and the company’s US construction business, based in Dallas. Cost of the project is expected to be more than £125m.

The Balfour Beatty Campus Solutions team will work with Texas A&M University to finalise contract details and reach financial close over the coming months.  Upon final approval, the project will be developed through a public-private partnership on a long-term ground lease that will be managed by Texas A&M University Housing and Residence Life.

The proposed development will incorporate approximately 4,000 beds featuring both apartment and traditional residence hall designs. Also included in the plan is a community support building that will house dining services and other amenities for the university's west campus population.

The project will be Balfour Beatty's sixth student accommodation project in the USA, following the recently announced University of West Florida contract which has an estimated completion value of US$500m (£312m).

Balfour Beatty CEO Andrew McNaughton said: "It is great to see another student accommodation project between our teams and The Texas A&M University System.  The ongoing development at Tarleton State University is on track to open in August of 2014.  We have identified student accommodation as a key growth area for us and we are excited about the opportunities in this growing market, both in the UK and US."

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