Subtext has recently announced its latest development, VERVE Charlottesville. This student housing project is located next to the University of Virginia (UVA) campus and is the largest development by Subtext yet.
The community will be developed in partnership with Kayne Anderson Real Estate and will be situated at 100 Stadium Road. It marks Subtext’s sixth deal in 2024 and their first project in Virginia.
Spanning over 729,262 square feet, VERVE Charlottesville will offer a total of 1,332 beds across 463 units. The units range from studios to four-bedroom apartments. As part of the project agreements, VERVE Charlottesville will also contribute $6.8 million to the Charlottesville Affordable Housing Fund.
The team behind this impressive project includes Sumitomo Mitsui Banking Corporation as the lender for this venture, John Moriarty & Associates as general contractor,E ESG Architecture & Design for architecture and interiors,WOLF ACKERMAN DESIGN as local consulting architect,AJC Design Group for landscape architecture , SK&A for structural engineering,Timmons Groupfor civil engineering,and Williams Mullenas local counsel .
This highly anticipated development near UVA has been receiving positive attention from investors and residents alike due to its prime location and commitment towards affordable housing initiatives through its contributions towards the Affordable Housing Fund.
