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A public-private partnership between Greystar Real Estate Partners and Merrimack College has broken ground on a 540-bed student housing community in North Andover, Mass., a Boston submarket. Designed by Cube 3, the development is set to come online in the fall of 2026.

The financing for the student housing project was fully secured through tax-exempt bonds, underwritten by Stifel and issued by MassDevelopment. A Collegiate Housing Foundation affiliate will own the community under a long-term land lease agreement with Merrimack College.