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University of Miami students can look forward to an affordable off-campus housing option for the start of the 2009-10 school year.
The Red Road Commons will be located on 6600 SW 57th Avenue and will offer 405 1-, 2- and 3-bedroom apartments, as well as 12,000 square feet of retail space.
The complex is also planned to have a pool, on-site parking, a state-of-the-art fitness facility and a cyber café.
“While the project will be open to the general market, it is expected that the University of Miami community will be the main market driver, given the project’s proximity and easy access to the Coral Gables campus,” said Patrick Burbank, the assistant vice president for Miami Asset Management Company, a subsidiary of the university that also worked on other housing projects such as Four Fillies Farm, a university housing community for full-time faculty.
The project, which began construction last December, is being developed by Wood Partners, one of the largest multifamily developers in the country. Wood Partners won the land through a bidding war after the University of Miami placed the land on the housing market.
Plans call for all of the units in the complex to be market priced for South Miami, which is relatively cheaper than Coral Gables.
This close proximity and relative affordability may prove to be a solid alternative to on-campus apartments and University Village for housing options.
The Red Road Commons apartments will offer 12-month leases much like University Village, and the developers vow to work with the university as much as possible to create a comfortable environment for residents and students.
“We will be working directly with the UM housing office to accommodate the needs of the UM population in any way we can,” said Jay Jacobson, who spoke on behalf of Wood Partners.
The news of new housing comes at the same time that the university is looking to change on-campus housing.
The new housing plan, promoted by Student Affairs and the office of the provost, will push for all incoming freshmen to live on campus in order to create a more residential college feel. Housing sign-up plans were changed earlier this semester to accommodate such a plan, but after the student body voiced its displeasure the changes were canceled.
The addition of the Red Road Commons project would free up more space on campus, keeping with the provost’s vision.
University officials declined comment on the topic, making it clear that UM is not developing the project. However, the university is expecting a large number of students to take up residence in the new complex.
“We made arrangements with the university for them to run the university shuttle to the property,” Jacobson said. “If a student lives there, they just have to hop on the bus and not worrying about parking.”
Christa Ruggiero may be contacted at email@example.com.
Red Road Commons:
Location: 6600 SW 57th Avenue
Apartment Styles: 1-, 2- and 3-bedroom units
Cost: Rent will range, depending on the unit, from $1,100 per month to $2,800 per month.
Complex Amenities: Pool, fitness facility, cyber cafe, small study areas with Interent access, two parking garages, Hurry Cane shuttle stop