A College Station property many consider to be an eyesore will be redeveloped starting this summer. The new owners of the Plaza say it will become a student housing facility.
More on this story later on News 3.
The following press release was issued by a PR firm on behalf of Woodridge Capital Partners:
COLLEGE STATION, TX - January 12, 2012 – Woodridge College Station, an affiliate of Los Angeles based Woodridge Capital Partners, LLC, in collaboration with Capstone Collegiate Communities, unveiled development plans for the Plaza at College Station yesterday.
Woodridge acquired the approximately 11.66-acre site at University Drive and Texas Avenue in July 2011. Construction is expected to get underway by summer 2012.
Since it acquired the property, Woodridge has been engaged in planning and design of a mixed-use project that will incorporate student housing with retail, restaurants and public spaces. Woodridge has retained the well known design firm of Humphreys & Partners Architects to design the project. The plan was filed with the city as part of the public approval process.
“We are very excited to share our vision for The Plaza at College Station with our neighbors, the community and the city,” said Michael Rosenfeld, managing partner of the ownership group. “The design will be complementary to the Texas A&M campus and other adjacent uses and will provide a distinct sense of place in the community.”
At the request of the city, Woodridge has been working with local agencies to improve security at the property.
Woodridge Capital Partners, headquartered in Los Angeles. It's a broad based real estate investment and development company with residential, commercial, and hotel assets throughout the United States. Woodridge and its CEO Michael Rosenfeld have been active in the real estate industry for more than 25 years. The company has made a name for itself by redveloping distressed properties like the Plaza.
Capstone Collegiate Communities, also known as “C3,” is the Off Campus/New Construction company recently formed as part of the succession of Capstone Development. C3 specializes in the development, construction and management of high-quality student housing in close proximity to major colleges and universities across the country.