Greystar Breaks Ground on “P3” Student Housing Development at Merrimack College MABA MassachusettsRealEstate MaBuyerAgent FirstTimeHomeBuyers

 NORTH ANDOVER, MA  – Greystar Real Estate Partners, LLC announced that they have broken ground on a two-building, modern student housing development. This project, a result of a Public-Private Partnership (“P3”), is composed of five hundred and forty beds at the intersection of Route 114 and Andover Street on the school’s North Andover campus. The new residence halls represent the largest increase in Merrimack’s on-campus housing stock since 2015.

 Upon completion in Fall 2026, the two four-story residence halls designed by Cube three will deliver five hundred and forty new beds to Merrimack’s campus. The first resident hall will consist of traditional-style student housing, totaling seventy nine thousand six hundred square feet and three hundred and fifty one beds. Academic space and other casual gathering spots for students will round out the first floor. The adjacent sixty one thousand three hundred square-foot residence hall will offer one hundred and eighty nine beds through suite-style units, featuring en-suite living rooms and bathrooms throughout. Both residence halls will create new living options for first- and second-year undergraduate students. “Greystar is proud to support Merrimack College with new on-campus living options for students,” said Gary Kerr, Senior Managing Director of Development at Greystar.

 “For many, communal living is a quintessential aspect of the college experience, and these buildings will offer attractive housing that will foster learning and growth. We applaud Merrimack’s administration for its dedication to enhancing the campus experience for students and for growing its housing stock in response to rising enrollment interest.” Like many colleges and universities, Merrimack College continues to see increases in enrollment and demand for on-campus housing options. The creation of these new residence halls will enable the school to relocate a significant number of students living in private, off-campus housing to the heart of the community.

 Significantly, the design plans ensure that the buildings will integrate seamlessly with the rest of Merrimack’s campus and that important gateways to the campus, the front of the church and the Statue of Christ the Teacher, will remain visible and accessible from the street. “Merrimack is proud to partner with Greystar to enhance the residential experience for our students,” said Dr. Christpher E. Hopey, president of Merrimack College. “This modern, innovative living environment is important for achieving our enrollment and retention goals, and it is key for our students to succeed and thrive.”

 Upon completion, residents will have access to amenities including a fitness center, in-building laundry, and other communal spaces. The entirety of funding for the construction of the student housing development was raised from tax-exempt bonds underwritten by Stifel and issued by MassDevelopment. An affiliate of Collegiate Housing Foundation, a non-profit 501(c)(3) owner of student housing facilities, will own the assets through a long-term land lease with Merrimack College.

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