Construction has begun on a $29.1 million luxury, off-campus student residential community designed to serve The University of Texas Rio Grande Valley in Edinburg, and which will bring 588 beds to the market, the Edinburg Economic Development Corporation has announced. The development is located at Chapin Street and Sugar Road, just 1/10 mile from the Edinburg Campus. It will have 3 separate buildings and 252 total units and is set to open in the Fall of 2017.
“This area of Texas is rapidly growing and having the chance to develop a community near the new and improved University of Texas Rio Grande Valley’s Edinburg campus, offers us the opportunity to do something different,” said Eric Jakimier, owner of Domus Development, LLC and student housing industry veteran. “We really work hard to be architecturally sensitive to the areas we go in to and because of this, we are going to lean on some modern/Mexican architects who are personal heroes of mine. It’s going to really stand out in the marketplace and be very different from your standard, run-of-the-mill project.”
“We have new homes, new hotels, new entertainment venues, among the lowest unemployment rates and best retail economies in the Valley, and, of course, our biggest asset is our people, and those are among the key elements that attract major private investments, such as Legends Edinburg,” the mayor said. “This growth and more have been done without raising the city property tax rate in the past 21 consecutive years.”