Monarch544, new student housing for CCU

HighBridge Properties, a real estate advisory and brokerage firm active in the southeast and on the west coast, has been engaged as the exclusive advisor to market and sell Monarch544, a student-housing community currently under construction next to the campus of Coastal Carolina University in Conway, S.C.

236 When completed this coming July, Monarch544 will house 440 college students in 128 luxury apartments. Residents will live on an eight-acre site located directly across South Carolina Highway 544 from the university’s student recreation and convocation center, and within walking distance of all campus academic buildings.

This property is the closest off-campus housing for Coastal Carolina University students and less than a mile from Monarch544.  The property is being developed by a team involving Monarch Properties, a student-housing developer and property manager based in Charlotte, N.C.; and two multifamily developers based in nearby Aynor, S.C.: Bradley Development 237 Company and Douglas Development. Progress Builders, an affiliate jointly owned by Bradley and Douglas, has served as the project’s general contractor.

The property, which is more than 50% pre-leased, is expected to be fully leased prior to completion. Students will be able to move in prior to the start of the university’s fall semester.

“Continued enrollment growth and limited housing options both on- and off-campus suggest that a well-located, well-managed student-resident community like Monarch544 has significant investment potential,” said Andrew Weddle, principal and managing director of HighBridge Properties. “With privately owned student housing fast becoming a favorite among real estate investors, we expect a great deal of interest from institutions and individuals alike.”

Monarch544 will consist of two four-story residential buildings totaling 210,000 square feet and a two-story, 11,000-square-foot clubhouse/student center that will feature a state-of-the-art fitness room, a computer center, a self-serve café, private study lounges and a game room.238

Other property amenities will include an outdoor, resort-style pool; a lighted, sand volleyball court; a surface parking lot with capacity for 440 vehicles; a fire pit with circular seating; and a courtyard barbecue/grilling area with picnic seating.

The fully furnished apartments will have two bedroom/two bathroom and four bedroom/four and one-half bathroom floor plans. Unit amenities will include flat-screen televisions; high-speed Internet connections; full-size, walk-in closets; stainless-steel kitchen appliances; full-size washers and dryers; an outdoor patio/balcony; and wood-style flooring in all rooms.


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