The 682-bed development will feature cottage-style duplexes, townhomes and stand-alone buildings comprised of one-, two-, three-, four- and five-bedroom units. The One will be the first cottage-style product of its kind in the market and will offer top-quality amenities including a large indoor/outdoor fitness center, business center, game room, resort-style pool, fire pit, private study lounges, basketball and volleyball courts, and shuttle service to campus. All units will feature the latest amenities. The approximately 32 acres will offer onsite parking, bike storage, bike trail connectivity and nearly 10 acres of open woodlands with walking paths. Equity financing is provided by a Trinitas managed investment entity, and construction financing is provided by PNC Bank. “We are excited to enter the Ann Arbor market and to continue our relationship with PNC Bank,” stated Loren King, Chief Executive Officer of Trinitas. “PNC and Trinitas have a long and successful history, and we are thrilled to start another project with them.”
About Trinitas
Trinitas is an owner, investor, developer, builder and manager of university-centric commercial real estate at major universities throughout the US, specializing in student housing, multi-family and mixed-use development. Trinitas currently owns and is developing approximately $500 mm in student housing, multi-family and mixed-use assets, with an additional $1 billion in its development pipeline. The company is headquartered in Lafayette, Indiana with offices in Indianapolis and Chicago. Learn more about Trinitas at www.trinitas.ventures.
About PNC
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.