FORT WASHINGTON, PA — Toll Brothers, through its Toll Brothers Campus Living rental division, and Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets, today announced the formation of a new joint venture to develop Canvas, a 263-unit, 826-bed luxury student housing community adjacent to Arizona State University in Tempe, Arizona.
TSB Capital Advisors served as advisor to Toll Brothers.
Canvas is situated on a 3.37-acre site just a three-minute walk from ASU’s campus and near surrounding restaurants, bars, coffee shops, retail and entertainment options. The community will include a six-level, 469-space parking garage and offer luxury amenities, including a state-of-the-art fitness center, clubroom with an Esports lounge, rooftop pool and amenity deck, business center, café/lounge space, ground floor retail, courtyard and fire pit, grilling stations, electronic parcel lockers, private study rooms and bike storage. Unit amenities will include a modern furniture package, quartz countertops, private bedroom door locks, walk-in closets, computer-controlled access, smart television, central air conditioning, private bedrooms and bathrooms, in-unit washer/dryer, hardwood-style floors, high-speed Internet, stainless steel appliances and a microwave oven.
For more information on this deal, read the full release here.