The Preiss Company, a Raleigh-based student housing developer, has broken ground on its newest off-campus project in the Capitol City.
The 72-unit development, called University Village, will be located at 2505 Red Lodge Place and will cater to N.C. State University students.
All units in the complex will include four beds and four bathrooms. The 7-acre property, which Preiss bought for $1.2 million, will also include a clubhouse, pool and fitness center.
Preiss expects the $13 million project to be completed by the end of next summer with students moving in in advance of the fall 2012 semester.
University Village is one of a number of new housing projects under development around N.C. State.