San Diego State University students will have more housing opportunities next year now that the university has acquired another apartment complex near campus.
On Wednesday, SDSU announced that it has purchased The Granada on Hardy apartment complex for $25.75 million with plans to eventually convert the building into student housing.
The 49-unit complex located at 5525 Hardy Ave. sits within campus boundaries and is walking distance from the school. It was developed in 2011 and includes two levels of underground parking with 126 spaces for cars and 8 spaces for motorcycles.
According to SDSU officials, the university officially took ownership of the property on Sept. 30.
Current tenants will be able to stay in the building through their contracted leases. However, beginning in fall 2014 and onward, SDSU will operate the apartment complex as student housing and rename the building “Granada Apartments.”
SDSU said the large purchase was made in an effort to create a more residential campus and increase student housing opportunities. University officials attribute high continuation rates, in part, to an increase in the percentage of freshman students living on campus.
Currently, the university says there are more than 1,000 students participating in 18 different “living-learning communities” at SDSU.
For more information about student housing at SDSU, visit this website.