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Consultants propose 400-bed apartment project on Lot 30 in Austin Peay housing study
Summary
Consultants presented a proposed public-private partnership for a 400-bed apartment-style housing project on Lot 30, with a target opening in fall 2028; trustees asked about SBC approval, lease terms and how the project would affect dining and parking capacity.
Austin Peay State University trustees heard a consultant presentation exploring a possible public-private partnership (P3) to add apartment-style housing near campus. Consultants working with the university proposed a five-story, roughly 400-bed apartment project on Lot 30 designed to open in fall 2028 and to serve primarily returning students and those relying on financial aid for housing.
Kevin Morrow and colleagues described the project as intended to strengthen the first-year experience while expanding housing options for upperclass students, reduce pressure on existing dining capacity, and remain price-competitive with the Clarksville rental market. "What we're proposing is a 400-bed apartment project on Lot 30. It would be about 5 stories opening in fall 2028," a presenter said during the presentation.
The consultants reported the university projects enrollment growth (described in the presentation as about 1.5% over the next seven years) and that demand analysis and a student survey supported additional apartment-style beds at competitive price points. They recommended apartment units for returning students, leaving semi-suite units primarily for first-year students. The Lot 30 site was described as approximately 1.6 acres and near campus resources; the concept includes about 100 parking spaces on site and university-wide parking solutions for any additional demand.
Project feasibility, lease terms and timeline: consultants said a key outstanding issue is whether the project will use 12-month leases or academic-year leases because that choice affects rental-rate assumptions. They also described a timeline that would use the consultant report to prepare a request for proposals (RFP) to the State Building Commission (SBC) for approval, select a development partner in fall 2025, and, if approved and negotiated, begin construction in 2026 to meet a fall 2028 opening. Consultants noted some schedule dates in the presentation may be aggressive and said SBC submission likely would occur in July 2025 rather than June.
Trustee discussion: trustees asked about SBC approval probability, parking and dining capacity, and parental concerns about students negotiating off-campus leases. A trustee noted the university's wait list for campus housing had grown by about 100 students since the slide was prepared; presenters said that growth supported the need for new beds. Consultants and university staff described factors that could aid SBC approval: a documented wait list, a strong rental market in Clarksville, engagement of reputable development partners and the fact Austin Peay would not be the first Tennessee public university to use a P3 model.
What this means next: the university team will finalize the plan, integrate the report into an RFP, submit to the state for SBC consideration, and pursue selection of a development partner. Specific financing, lease structures and final design remain to be negotiated with a selected partner and through required approvals.
