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Capstone Development Partners Joins University of North Alabama in the Opening of its Newest Residence Halls

BIRMINGHAM, Ala., Feb. 1, 2016 (GLOBE NEWSWIRE) -- Capstone Development Partners, ("CDP"), in conjunction with the University of North Alabama ("UNA"), celebrated the completion of Olive and Mattielou residence halls with a dedication ceremony and ribbon cutting ceremony. Building 1, Mattielou Hall, was completed on schedule in August 2015, and welcomed home 335 students for the start of the Fall 2015 semester. Situated near Mattielou Hall, the second building of the two new residence halls, Olive Hall, was completed on-schedule in January 2016 and welcomed 429 students at the start of the Winter 2016 semester.



CDP was selected as UNA's housing development partner for this project in Summer 2013, after competing in a public procurement process. The construction schedule for the two residence halls spanned 13-18 months. The two buildings were delivered on time and under budget. The new residence halls were designed by Goodwyn Mills & Cawood, and were constructed by BL Harbert International. The new facilities are managed and operated by the UNA Department of Housing and Residence Life.

Olive and Mattielou residence halls provide UNA with new and attractive housing to enhance the University's recruitment of prospective new students. The two new residence halls will house mostly first-year students. The new housing communities feature spacious, suite-style, single and double-occupancy rooms, each with its own bathroom. The buildings total approximately 192,000 square feet and offer residents ground level common areas featuring meeting and study spaces, management and residence life offices, and activity areas which include pool tables, classic arcade games, study desks and TV lounges. The upper floors of the buildings also offer smaller, more private common areas and lounges where students can interact, study or relax. The ground floors of both buildings are also certified storm shelters, designed to protect all Olive and Mattielou residents in the event of a tornado emergency.

"UNA started this initiative with a clear goal to upgrade and enhance its housing inventory with modern, attractive, yet affordable housing options. The Capstone team developed and presented to UNA a master development plan to transform the residential north precinct of the campus into a dynamic village to serve the next generation of UNA students. Through our collaborative partnership we have delivered the first phase of this transformation, in the form of two handsome residence halls that have created a new excitement and energy on the campus." said Jeff Jones, CDP Principal and UNA Project Executive. "We look forward to continuing our partnership with UNA to turn our shared vision into reality, adding additional housing phases as appropriate to support UNA's goals for enrollment management and student success."

About Capstone Development Partners

Capstone Development Partners, LLC is a Birmingham, AL based student housing developer with over 25 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 and affiliations with both public and private colleges and universities. http://www.capdevpartners.com

University of North Alabama

The University of North Alabama is an accredited, comprehensive regional state university offering undergraduate and graduate degree programs through the colleges of Arts and Sciences, Business, Education and Human Sciences, and Nursing. Occupying a 130-acre campus in a residential section of Florence, Alabama, UNA is located within a four-city area that also includes Tuscumbia, Sheffield and Muscle Shoals. UNA also operates a renowned collegiate athletic program in NCAA Division II's Gulf South Conference. The University of North Alabama is an equal opportunity institution and does not discriminate in the admission policy on the basis of race, color, sex, religion, disability, age or national origin. http://www.una.edu

A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=38701

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

Source:Capstone Development Partners