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Trinity University Acquires Class-A Multi-Family

Trinity University announced in mid-January that it finalized the purchase of the nearby City Vista apartment complex at Hildebrand Avenue and Devine Road. The acquisition of the 141-unit high-rise, with its 340-space parking garage, will help Trinity to expand its student living options, university officials said.

The Koontz Corp. built City Vista in 2015 on the northern edge of the Trinity campus. “The property has exciting potential as student residential housing,” University President Danny Anderson said in a news release. “It provides new living opportunities for juniors and seniors seeking greater independence and privacy, while maintaining the benefits of our residential campus experience.”

Trinity enrolls 2,400 undergraduate and 200 graduate students annual. As a residential campus, Trinity requires undergrads to live on campus for three years. Trinity also houses 1,800 students in its campus residence halls. According to a recent Trinity housing study, new housing options are important toward attracting and retaining students. Juniors and seniors seek options such as private rooms as well as an apartment-style lifestyle, university officials have said.

“City Vista Apartments immediately broaden housing options for juniors and seniors and possibly graduate students. This purchase moves Trinity into the future we are planning,” Anderson said in the release. Trinity will maintain existing leases and is already starting the transition process so that City Vista Apartments will function as student housing as early as this fall.

The apartment complex boasts amenities such as a fitness center, entertainment room, views of downtown, a rooftop terrace and a large swimming pool. According to the San Antonio Business Journal, City Vista was initially marketed towards young professionals who are not yet ready or wanting to buy a home. At the time of acquisition, 96 percent of City Vista’s units were occupied, with most of them being students, the Business Journal stated recently.

In the middle of the last century, Trinity owned this parcel known as the “triangle property.” Later on, multiple changes in ownership and deed restrictions on the parcel enabled Trinity to the “right of first offer” if the property were put on the market again. “Opportunity knocked and Trinity answered, bringing full circle the ownership of the ‘triangle property,'” Anderson said in the release.

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