A $60 million-plus student housing project with a rooftop pool is planned north of Gregg and Center Streets, between the Arkansas & Missouri Railroad tracks and the Razorback Greenway in Fayetteville. The eight-story building will consist of seven floors and a basement.
Lafayette, Indiana-based Trinitas Ventures is the developer of the 764-bed, 226-unit Current on Center project, according to a company spokesperson. The 35,000-square-foot project will be built on a 0.8-acre site at 612 Center St. in Fayetteville.
It is the company’s first project in Arkansas. Trinitas Ventures has developed nearly $1 billion worth of university-related real estate and is currently developing nearly $1 billion worth of student housing and mixed-use projects.
The company has applied for a $60.49 million building permit, which the spokesperson said is expected to be issued in the fourth quarter of this year. If approved as scheduled, construction would be completed by July 2026.
The project includes a mix of apartments, a 239-space parking garage, and indoor and outdoor amenities including a public park, rooftop pool, play and recreation rooms, study and meeting spaces, and a fitness center. On-site parking is planned on two floors beneath the student residence, with an off-site parking lot providing an additional 200 spaces.
A limited liability company led by Trinitas CEO Loren King recently acquired the land for the project in separate transactions totaling $4.68 million from AR-UA II Holdings LLC of Lafayette.
It also recently signed a 55-year lease with Fayetteville-based Tagon Corp., led by Craig Underwood, for 112 N. University Ave., the address that was also home to Powerhouse Seafood & Grill, a restaurant that will close in 2023.
