The Colony is a rare opportunity to develop 90 new apartments in a market dominated by 1970’s and 1980’s vintage apartment stock with average vacancy at a very low 2.4% over the last three years. The market is starving for new construction and locations of convenience garner premium rents. This supply-constrained market remains strong with the annualized rent growth averaging 2.7% for the last three years.
Within walking distance to Cal State Fresno and Fashion Fair Mall, the Colony is well-situated for private off-campus housing targeting college students in the greater Fresno area. While local student-targeted communities generate a premium in rents, the current approvals provide a developer with the flexibility to build traditional market-rate multifamily.
Rare new construction in a market dominated by 70’s and 80’s walk-up product.
Three-story garden-style community severed with two elevators per building.
Conveniently located within walking distance to Cal State Fresno
A strong correlation exists between higher rents and proximity to the university
All market-rate units targeting students seeking off-campus housing near the university
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DIR (949) 789-4555 x 14
DIR (949) 275-6441 x 19
MOB (949) 275-6441