Student Housing Project Near UCF Lands $176.6M Construction Loan

• Beachwold Residential has secured a $176.6 million construction loan from Affinius Capital to develop the two-phase Place at Alafaya student housing community near the University of Central Florida.
• The project will deliver 484 residential units, 1,395 student beds, and 1,301 parking spaces across four four-story buildings.
• Phase I is scheduled for delivery before the 2028-2029 academic year, while Phase II is expected to open before the 2029-2030 academic year.

What the Development Will Bring to UCF

Beachwold Residential has secured financing to move forward with Place at Alafaya, a purpose-built student housing community planned near the University of Central Florida in Orlando. The $176.6 million construction loan, provided by Affinius Capital, will fund the first two phases of the project as demand for modern off-campus housing continues to grow around one of the nation's largest universities. Once complete, the development will feature 484 apartment units, 1,395 student beds, and 1,301 parking spaces across four four-story residential buildings, creating one of the larger student housing communities planned in the UCF area.

What the Two-Phase Development Includes

Construction will be completed in two phases. Phase I will deliver 284 units, 809 beds, and 767 parking spaces, with completion targeted before students return for the 2028-2029 academic year. Phase II will add another 200 units, 586 beds, and 534 parking spaces, with delivery expected ahead of the 2029-2030 academic year. The community will also feature a standalone three-story, 16,000-square-foot clubhouse that will serve as the center of resident life.

What Amenities Students Can Expect

The clubhouse is planned with a boutique coffee bar, study lounges, gaming and theater rooms, social gathering areas, and a top-floor fitness and wellness center complete with a sauna and cold plunge. Additional amenities will include lagoon-style swimming pools with cabanas, landscaped courtyards, pickleball courts, a half-court basketball court, dog parks, outdoor fitness stations, barbecue areas, private study rooms, game rooms, walking trails, and a dedicated shuttle service offering direct transportation to the UCF campus. These features are designed to create a resort-style living experience while supporting students' academic and recreational needs.

What the Financing Means for Student Housing

The financing reflects continued investor confidence in the student housing sector, particularly near large public universities experiencing steady enrollment growth. Affinius Capital said the project aligns with its strategy of financing high-quality student housing developments at leading universities. The transaction was arranged by JLL, whose capital markets team represented the borrower in securing the construction financing. As Orlando continues to grow, developments like Place at Alafaya are expected to help meet increasing demand for modern, purpose-built housing that offers students convenient access to campus along with premium amenities.