3003-3005 Old Taylor Rd - Approved Multi-Family Development | Ole Miss

Approved Multifamily Development!! Very Close proximity to Ole Miss Campus. Sale of site includes approved plans for two apartment buildings. Head start on approvals and time to construction. Oxford multi-family or condominium development along Old Taylor Rd in Oxford, MS & Ole Miss spanning 3.21 acres, this site boasts approved building designs for two architecturally appealing multi-level buildings with a total of 85 units and 125 bedrooms, plus commercial space and top-tier amenities. With a location just 1.2 miles from the University of Mississippi campus, Vaught Hemingway Stadium, Swazye Field, the Grove and downtown Oxford, this property is minutes away from the University and town activities. The 2023 freshman class saw a surge of 16.9%, creating demand for both on-campus and off-campus student housing. Since 2021 - Ole Miss Freshman enrollment has gone up 46% nearly doubling enrollment for freshman. Oxford’s population has doubled since 2000, with a projected 25% increase by 2030. The pre-leasing market trend is exceptional, with a 61.5% pre-leasing rate in February 2024 - significantly above the previous year. The University of Mississippi is leading the way with double-digit rent growth and rapid leasing of multi-family units. Don't miss out on being part of this thriving market! • Two Multi-Story Building Design & Site Plan Approved for 85 Units | 125 Beds • Great location for Multifamily Housing Development | Close to Campus • SEC College town with 3 year increasing record of freshman enrollment. • #1 pre-leased market out of the larger student housing markets in the country. • Freshman class grew 16.9% or 750 students in 2023, setting University & State record. • 1.7 Miles from the University of Mississippi Campus, and Oxford Square • Oxford Population has doubled from 2000-2023, projected to increase 25% by 2030. • Pad Ready Site with Parking Lot and Utilities in Place. • Finalize Construction Drawings for Municipal Approval - To Pull Permits • Strong Apartment Demand. Under-supplied Apartment Inventory • After Finalized Construction Drawing Approval, Pull Permits and Start Development. • Total Site size is 3.21 Acre • Old Taylor Road leads directly to the University of Mississippi Campus. • Direct access from Old Taylor Rd to Highway 6 and to the University of Mississippi -Per Yardi Matrix Student Housing report March 2024: - #1 pre-leased market out of the larger student housing markets in the country. - Pre-leasing in February 2024 reached 61.5% in February. 450 basis points ahead of Feb 2023. - The pre-leasing of housing is caused by the surging demand with enrollment growth and limited supply in the market. - The University of Mississippi is one of the 7 Universities in the country that feature double digit rent growth YOY and be among the quickest to pre lease multi-family units. - The national student housing market is absorbing the more than 46,000 Beds coming into market as enrollment continues to grow. - Rent in student housing has consistently grown by 6-8% outperforming nearly all asset classes.