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CS Council Enters Agreement for A&M Housing & Retail Development

A development on the A&M campus combining student housing with retail, a hotel, and a convention center will not be exempt from property taxes.

That’s because a private developer is in charge of the Campus Pointe student housing and retail development west of the former Plaza Hotel.

The College Station City Council at its last meeting unanimously approved an agreement with the A&M System.

In addition to collecting property taxes, the city will receive revenue from providing electricity.

The university will supply water and sewer service and study traffic and stormwater drainage issues.

CScoun042513tamusJN.mp3Comments from Councilman John Nichols.

CScoun042513tamusJS.mp3Comments from Councilwoman Julie Schultz.

Click HERE to see architect’s maps and drawings associated with the information listed below.

Campus Pointe is to be located on 70 acres on the northeast corner of University and South College Avenue and 10 acres on the northwest corner of the intersection of South College and Cross Streets in College Station, TX on Candy Hill and Brazos sites.

The project will include: The Academic Facility-The building involves three levels of parking, one partially underground and two behind 24,000 square feet of retail space. The 7 story academic/administrative facility tops this parking/retail platform.

The Convention Center-A convention facility with approximately 110,000 gross sq ft. that shares “back-of-the-house” facilities between the hotel and convention center (kitchen, workshops, employee facilities, etc.) to reduce costs to both.

The Hotel-The hotel facility for the Campus Pointe project will derive most of its occupancy from the convention center. With proposed amenities to include a fitness center, swimming pool, and a “Signature” roof-top restaurant and proximity to Texas A&M, the Research Park, the Bush Library, and the Northgate’s expanded entertainment district, the anticipated 200 room capacity should be supported.

Residential Component-Approximately 320 total units of multi family housing to accommodate both the young and mobile professional model as well as the graduate student market. These units would be available for rent. 36 sports condo units are to be placed at top of the hotel to create maximum value.

Retail Component-two retail segments were accordingly targeted: 1)Entertainment retail serving hotel/convention attendees, families, and students. It is made up of restaurants, bars, coffee shops, boutiques. 2) Neighborhood retail serving mostly students, with space for personal services such as laundry, optical, hair salon, travel agency, video rental, deli, etc.

Short URL: http://wtaw.com/?p=61318

Posted by on Apr 30 2013. Filed under Featured Stories, News.


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