The new public-private partnership will convert The Rixey in Arlington, Virginia from market-rate apartments to a college-affiliated student living community
CAMDEN, N.J., February 19, 2020 (Newswire.com) - The Michaels Organization has been selected by Marymount University as its property management partner for The Rixey in Arlington, Virginia. Marymount University and Michaels Student Living will co-manage leasing efforts and solely handle the operations and resident life program.
Located in the Ballston neighborhood of Arlington, the 267-unit property was originally opened in 2017 as a conventional, multifamily apartment community with ground-floor retail space. Marymount University purchased The Rixey in February 2019 in order to provide well-located and competitively-priced apartment-style housing suitable for upperclassmen and graduate students, as well as faculty and staff.
Marymount University and Michaels Student Living are currently in the process of transitioning The Rixey to a 502-bed college-affiliated student living community. Residents must be matriculating students at Marymount University or one of the 17 other colleges or universities that are members of the Washington D.C. Consortium of schools. Affiliated faculty and staff are also eligible to lease apartments at The Rixey.
“This fully furnished all-inclusive housing model provides a fast, affordable and viable solution for neighboring colleges to provide contemporary apartment-style housing for their students,” said Michelle Dixon, Vice President, Michaels Management, Student Living. “We look forward to providing an exciting and comfortable live-learn home for all the residents at The Rixey."
The conversion to the all-student living environment includes leasing by the bed, rather than by the unit, a preferable leasing model for students, and will accommodate more than 500 residents in a mix of studio, one-bedroom and two-bedroom units. Convenient street-level retail services include Northwest Federal Credit Union and Starbucks.
Property amenities include fully-furnished apartments, high-speed Wi-Fi, outdoor fire pit with cozy, semi-private cabanas, rooftop spa and top of the line Technogym cardio and conditioning equipment.
About The Michaels Organization: The Michaels Organization is a national leader in residential real estate, offering full-service capabilities in development, property management, construction, and finance. Serving 145,000 residents across 35 states, Michaels offers management expertise in student, affordable, military and luxury living communities. Michaels is committed to crafting housing solutions that jump-start education, civic engagement and neighborhood prosperity and to creating Communities That Lift Lives.
Media Contact: Dale McCullough, The Michaels Organization; 856-355-4656, firstname.lastname@example.org
Source: The Michaels Organization