OREM, Utah – The Green on Campus Drive [“The Green”], a new state-of-the-art community geared for students at Utah Valley University (UVU), held a ceremonial ribbon-cutting to celebrate the completion of the long-awaited project. Offering more than 1,600 beds, The Green is over 89 percent pre-leased.
Developed in partnership between PEG Companies [“PEG”] and Woodbury Corporation and managed by Redstone Residential, The Green is located adjacent to Utah Valley University at 499 W 960 S in Orem, Utah. It consists of five buildings and includes free parking, a fully equipped fitness center, outdoor pool, three year-round hot tubs, a sand volleyball court, a theater room, a multi-purpose game room, a computer lab, a conference room, and more.
The Green is the fastest-leased and highest retention student housing in Utah County and has the highest bed count in the city. The development of the student housing was a true community effort.
“What makes this project so great is all of the input and insight we received from neighbors, the Alpine School District, Orem City, traffic engineers and so many others,” said Taylor Woodbury, Chief Operating Officer at Woodbury Corporation. “Changing the size of the parking garage, rethinking the most efficient access to the project, improving traffic flow around nearby schools – these and more were all thoughtful ideas from the above mentioned that make The Green a true community project.”
In addition to providing a convenient housing option for students, PEG and Woodbury Corporation also bore the cost of and installed infrastructure for nearby traffic improvements including:
- Installing a convenient new pedestrian tunnel under Campus Drive
- Added a new traffic signal at Lakeridge Junior High and reconfigured the entry to make it safer and more efficient
- Added more parking to the north side of the junior high
- Widened the turn lane on 960 South
“The benefits that community members enjoy today as a result of this project far outweigh any difficulties we faced during the entitlement and approval processes,” said Cameron Gunter, Founder and CEO of PEG Companies. “From the many traffic improvements, we brought to the area to helping fill a major need for more student housing at UVU, we are excited to celebrate the efforts of so many now paying off.”
For more details, including a list of amenities and information about leasing, please visit https://thegreenoncampusdrive.com/
About PEG Companies [“PEG”]:
Founded in 2003, PEG Companies [“PEG”] is a full-service commercial real estate development and investment firm known for its unique approach to creating value. A vertically integrated organization with five highly synergistic companies that each manage a different aspect of PEG’s investments, the group is known for its hands-on involvement through the entire investment process. From sourcing deals to the development and construction of projects, all the way through to operating the assets and ultimate disposal, PEG’s diverse and experienced team executes each investment strategy with precision, creating the premier real estate experience. With $2 billion AUM diversified across the multifamily, student housing, mixed-use, retail, industrial, and hospitality asset classes throughout 20-plus states/provinces, the firm sponsors multiple investment products on behalf of its investors. For more information on PEG, visit pegcompanies.com.
About Woodbury Corporation:
Founded in 1919, privately-held Woodbury Corporation is one of the oldest and most respected full-service real estate development companies in the Intermountain West. Headquartered in Salt Lake City, Utah, and with $4 Billion in assets under management, the Woodbury portfolio includes retail, office, hotel, residential and industrial projects across 16 states. For more information, please visit http://www.woodburycorp.com.
About Redstone Residential:
Managing in excess of 31,000 beds, Redstone is one of the largest student housing management providers in the country. Over the years, Redstone has distinguished themselves by successfully executing on difficult lease-ups, complex value-add strategies and unique asset repositions. Redstone operates boutique developments, resort-style projects and everything in between.
