– Irreplaceable Location
University Walk is situated in Knoxville’s sought-after Fort Sanders neighborhood, known for its walkability to campus, bars, restaurants and dynamic downtown. The property is just a few blocks north of the University of Tennessee campus and Cumberland Avenue, where numerous restaurant, retail and bar options reside.
– Record-Setting Enrollment Growth
The University of Tennessee’s enrollment growth over the past 5 years has been remarkable. It welcomed its largest ever student body to campus this Fall at over 36,000 students—a 7.4% increase from the prior academic year. The increase is attributed to both record retention rates as well as recent larger freshman classes. The 5- and 10-year growth rates are 25% and 33%, respectively, representing some of the largest enrollment increases in the country over that period. Additionally, out-of-state undergraduate enrollment recorded a YoY increase of an outstanding 36% for Fall of 2023 and 57% over the last 2-years. The outsized enrollment growth experienced by the university is showing no signs of slowing down as its popularity and reputation surge. The University’s Master Plan indicates its ambition to grow to approximately 46,000 students by 2030—an enormous ~14,500 student gain from Fall ‘21.
– Top Performing Student Housing Market
University of Tennessee’s thriving enrollment trends over the past decade have placed extreme upward pressure on Knoxville’s already tight student housing market. This has culminated in Knoxville sitting atop the charts for rent growth and preleasing velocity with Yardi Matrix tracking it as the #1 market for both metrics in November 2023. The University’s anticipated enrollment growth moving forward will continue to provide positive market-wide supply and demand fundamentals. University Walk is expecting rent growth north of 25% for AY 24-25 based on current leasing momentum.
– Top Tier University
The University of Tennessee, Knoxville is the flagship university of the statewide University of Tennessee system. Classified as producing very high research activity by the Carnegie Classification of Institutions of Higher Education (Doctoral Universities R1 category), UT as a member of the prominent Southeastern Conference (SEC) also boasts 23 team national championships, including football, track and field, swimming and diving and women’s basketball. Exceptional programs for information sciences, nuclear and aerospace engineering, business administration and many more have cemented UT as a nationwide destination school and the top choice for in-state applicants.
– Amenity Package
Community amenities at University Walk include a 24-hour state-of-the-art fitness center, computer lounge, resort-style pool with sundeck and hot tub, fire pit, covered outdoor kitchen with bar area, resident clubhouse with games area, private study lounge, optional reserved surface parking, and more.
– In-Unit Finishes
The Property’s in-unit finishes compete among the top of the market properties. The units feature fully equipped kitchens with granite countertops and stainless steel appliances, in-unit washer and dryer, private bedrooms and bathrooms, ample storage space, and hardwood-style flooring. Select units offer private balconies.
