Aecom-Canyon Partners, Martin Group secure loan for student housing project in California

WCN Editorial Team 10 Jun 2020 NORTH AMERICA BUILDINGS

A joint venture of Aecom-Canyon Partners and The Martin Group has secured a $73.3m construction loan from Pacific Western Bank to begin the development of a student housing project near California State University, Sacramento.

The 223-unit project will include a mix of studio, two-, three-, four-, and five-bedroom units, with bedroom-bathroom parity, several tenant amenities, ample parking and about 7,400ft² of commercial space.

To be located near the university’s Hornet Crossing entrance and beside several retail and dining options, the mid-rise student housing project is expected to bring much-needed housing to the university.

Construction on the transit-oriented development of Wexler on 65th is expected to begin this month and is scheduled for completion by the fall of 2022.

The project will be directly adjacent to Sacramento Regional Transit Authority’s (SacRT) University/65th St. Gold Line light rail station, offering direct service to downtown Sacramento in about 11 minutes.

In March this year, the joint venture started the reconstruction and modernisation of the bus stops for SacRT on 67th and Q streets, as part of the Wexler’s off-site improvement plan.

Last month, Aecom completed and handed over a temporary healthcare facility with nearly 200 operational patients at the Ranch Events Complex in Larimer County, Colorado, in response to the Covid-9 pandemic.

The project was developed with the US Army Corps of Engineers (USACE), Omaha District, in support of a Federal Emergency Management Agency (FEMA) mission assignment. The company rapidly retrofitted the fairgrounds to ease the strain on existing medical facilities during the pandemic.

In April, the company had secured contracts worth more than $200m, from key U.S. federal and state government agencies to assist in their responses to the coronavirus crisis. The contracts included design and programme management projects to support the construction of emergency triage hospitals across the US.

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ACP and Martin Group JV secures loan to build student housing project in California. (Credit: Pixabay/Dimitris Vetsikas.)

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