Stetson University has purchased the Stetson Cove apartments at 315 W. Pennsylvania Ave. and plans to open the complex as student housing in August 2012 after making extensive renovations.
“Our existing apartment-style student housing on campus is currently our most popular option, and we believe Stetson Cove will be another attractive housing option for juniors, seniors and married and partnered students,” said Robert Huth, vice president for business and chief financial officer. “Undergraduate student enrollment increased this year, and we expect enrollment to continue increasing over the next few years. This facility positions us well for that growth.”
The purchase from BSST Investments LLC for $1.25 million was finalized earlier this month. The previous owners are working with current residents to ensure a smooth transition to other housing over the next few months.
By June 1, Stetson will begin $1.1 million in renovations to the 44 one- and two-bedroom apartments. Renovations will be made to kitchens, bathrooms and air conditioning systems, in addition to improvements to a courtyard/recreation area. Local contractors will be hired for the project – providing a needed boost to the local economy.
Stetson Cove apartments will be ready for Stetson students by August, in time for the start of fall semester 2012 classes. The apartment complex will be pet-friendly. Housing and Residential Life staff will live on the premises, and students will be required to sign agreements to abide by the university’s Housing and Residential Life policies. Security will be provided by Stetson’s Public Safety Department.
Stetson will soon begin accepting reservations for student housing for next fall, and the Housing and Residential Life staff has already begun fielding inquiries from interested students, said Ben Falter, director of Housing and Residential Life. The cost to live in Stetson Cove will be comparable to Stetson’s existing on-campus apartment housing.
“The large bedroom size and its off-campus feel, with on-campus amenities and security, make Stetson Cove an excellent choice for students seeking a more independent adult living environment,” said Falter.