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Capstone Development Partners Announce New Partnership with University of North Alabama

BIRMINGHAM, Ala., Sept. 4, 2014 (GLOBE NEWSWIRE) -- Capstone Development Partners, (www.capdevpartners.com) ("Capstone") working in a collaborative partnership with the University of North Alabama ("UNA") has recently commenced construction on two new on-campus residence halls on UNA's campus in Florence, AL.

Capstone was selected as UNA's housing development partner for this project in July of 2013, after competing in a public procurement process. The project will have a total development cost of approximately $34 million. Construction is scheduled to be complete on Building 1 in August of 2015 and Building 2 in January of 2016. The new facilities have been designed by Goodwyn Mills Cawood, and are being constructed by BL Harbert International, both firms of Birmingham, AL.

The new residence halls, contemplated as the initial phase of the North Campus Residential Village, will include approximately 764 student beds arranged predominantly in double occupancy rooms with semi private bathrooms to serve UNA's undergraduate students. The housing will be located behind existing Hawthorne and Covington Halls on the northern end of UNA's campus. The new housing community will consist of two 4-6-story buildings totaling approximately 192,000 square feet, featuring ample common area and amenity space that will also serve as a certified Storm Shelter.

"We are delighted to be working as UNA's development partner on this exciting and important new student housing project which will begin the replacement of UNA's older residential facilities as modern, state-of-the-art living-learning communities. We believe this initiative will boost UNA's recruitment and retention efforts and enhance the beauty of the campus." said Jeff Jones, Capstone Principal and UNA Project Executive.

About Capstone Development Partners



Capstone Development Partners, LLC is a Birmingham, Alabama based student-housing developer with over 24 years of experience in the higher education student housing industry specializing in the development of on campus and campus-edge student housing through Public Private Partnerships.

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=27450

CONTACT: Nicole Ivanovich Marketing Administrator nivanovich@capstone-dev.com (205) 949-5052 402 Office Park Drive, Suite 199 Birmingham, AL 35223

Source:Capstone Development Partners