New Private-Public Partnership to Address University of Tennessee Housing Shortage
Credit: Photo Courtesy of University of Tennessee, Knoxville- The Lakemoor Station Apartments, 5 miles from campus, will add 192 beds in August and more in January 2024.
- Two of UT Knoxville’s dorms are set to finish by fall 2025, and the final dorm will finish by fall 2026.
- The three dorms will add 2,600 new beds and cost over $300 million to build.
University of Tennessee, Knoxville, is solving its housing problem by leasing an entire apartment complex for student housing while it builds three new dorms. The university says it’s encountering a housing crisis as enrollment grows and students prefer to stay on campus longer.
UT Knoxville announced a five-year master leasing agreement with Lakemoor Station Apartments on May 22, adding 192 beds in August while the university builds three new seven-story residence halls.
The beds will be options for spring semester upper-division students and students with housing contracts who request a room change. The one-, two-, and three-bedroom apartments will come fully furnished and have hall directors and residence advisors.
Like a dorm, the apartments will have community space for students and offices for staff. The apartments are about five miles from campus, so the university has arranged campus transit to take them to and from campus.
University of Tennessee, Knoxville’s Three Newest Dorms
UT Knoxville secured the first public-private university housing partnership in Tennessee with RISE Real Estate to build the new residence halls in the same exterior style as existing campus buildings.
The first two dorms, the Andy Holt Avenue and Caledonia Avenue communities, are set to open in fall 2025. Together, the suite-style dorms will add 1,850 beds and cost the university about $180 million.
The third community, next to the Lindsey Nelson Stadium, is an apartment-style community expected to open in fall 2026. The community will feature 750 two- and four-bedroom furnished apartments, costing the university about $129 million.
The third community will also have an onsite indoor practice facility for campus recreation.
“The public-private partnership with RISE is an important step to help meet the student housing needs of our growing campus,” said Frank Cuevas, vice chancellor for student life. “These projects will add to the student experience as we modernize and expand our campus housing inventory. We are excited about our partnership with RISE and the opportunity to make this project a reality for the campus community.”