Capstone Development Partners has announced that it has closed on a traditional debt and equity financing for a new on-campus student housing community at San Diego State University. Planning for the development began in 2018. 

The Project, named VIVA 5750, will be located on land ground leased to Capstone by the Foundation and will serve as a cornerstone to the University’s southern gateway entrance at Montezuma Road and Campanile Drive. The 4-story, 80,000 SF community will house approximately 182 students in a mixture of apartment-style units and will include a mix of indoor and outdoor amenities.

The Project will have a total development cost of approximately US$ 23.5 million. Construction of the Project commenced in May 2020 and is scheduled to open for the Fall 2021 semester.

Capstone, along with its architect JWDA Architects and builder Cannon Constructors, Inc, collaborated with the San Diego State University Research Foundation’s project stakeholders on the planning, programming, and design of the new apartment community to ensure the Project’s program meets the University’s goals and objectives relative to upper-division and graduate student housing options at and around San Diego State University.