New developer buys student housing site near UT
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Apr 26, 2022

A long-watched property in North Hyde Park is in the hands of a new student housing developer.

Commercial Street Partners paid $11.5 million for the 1.82-acre site at 311 N. Newport Ave., which was once home to a doggy day care. Commercial Street Partners, based in Rochester, New York, acquired the property from Reger Holdings LLC, also based in New York.

A groundbreaking or construction time frame is yet to be determined, said Colliers, which announced the deal Tuesday.

The property is approved for 150 units and 576 beds in an eight-story mid-rise configuration with 303 structured parking spaces. Reger paid $5.4 million for the property — prior to obtaining city approvals for its plans — in 2020. The floor plans range from two to six bedrooms, with a bathroom for each bedroom.

The building will also include a fitness center, third-floor pool facing the university, volleyball court, outdoor lounge and grill stations, and a rooftop lounge overlooking UT.

Colliers' Sean Baird, director of student housing services, and Jonathan Holt, director of student housing investments, facilitated the transaction.

“311 N Newport will be the best-located off-campus student housing community serving the University of Tampa," Baird said in a statement. "This is a supply-constrained market, and demand is going to continue growing into the future. This was a great fit for the buyer, which is seasoned at developing student housing communities and will enjoy economies of scale for this project due to other projects it has underway in Florida.”