Greystar, in partnership with Provident Resources Group, has been chosen by the University of Washington’s Board of Regents to lease and redevelop four student housing properties owned by the university. The properties include Nordheim Court, Radford Court, Blakeley Village and Laurel Village.
The Northwest multifamily team at CBRE assisted UW in finding a developer for this project. Greystar will be responsible for managing Nordheim Court and Radford Court as well as redeveloping Blakeley Village and Laurel Village into larger housing complexes.
Last month, Greystar began the permit process to revamp these two older student housing buildings located near campus. Provident will serve as the lessee and use tax-exempt bonds to finance the redevelopment.
Plans for redevelopment include modernizing Blakeley Village into a single-student apartment complex with approximately 1,000 units while transforming Laurel Villages from an 80-unit family building into a community with nearly 350 apartments. Both projects are expected to be completed by summer 2028.
