US-based Greystar Real Estate Partners has been selected by the University of California Hastings College of the Law (UC Hastings Law) as the master developer for campus housing, academic and mixed-use schemes worth $450m for its San Francisco campus.
Greystar will deliver the project in two phases and provide more than 900 units to the UC Hastings campus for students, faculty and staff.
The $250m Phase I will be a new construction that is expected to open in 2022. Greystar will deliver 630 units of campus housing under this phase and is intended to be funded with tax-exempt bonds.
Under Phase II, the historic 100 McAllister building will be renovated. It is expected to open in 2024 and will provide mixed-use amenities and 300 newly renovated units.
Greystar managing director of university partnerships in the west Jared Everett said: “We are excited to partner with UC Hastings to execute the law school’s vision to create a vibrant, multi-disciplinary academic village in the heart of downtown San Francisco.
“This transformational partnership will support the UC Hastings community and UCSF students with a new innovative living-learning environment in the heart of San Francisco.”
The academic village will feature more than 80,000ft² of classroom, office and retail space for the law school and other tenants.
A fitness centre, study lounges, community kitchens and social lounges will be part of the student amenities.
The mixed-use component will include an auditorium to welcome national speakers and faculty from across the country.
Based in Charleston, South Carolina, Greystar manages and operates around $115bn of real estate in 180 markets worldwide.