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Pinecrest is moving forward with The Penny, a new student-focused high-rise that is scheduled for completion before the start of the 2027 school year. The 20-story apartment community is located just off the Texas A & M campus and is being programmed specifically for student residents.
The Penny is designed to offer 605 beds across 199 residential units. The mix will span studio, one-, two-, three-, four- and five-bedroom floor plans, with layouts incorporating bed-to-bath parity to give residents private bathroom access aligned with each sleeping space. The plan also includes townhome-style units to broaden the range of living configurations available to students.
The project emphasizes a mix of academic and lifestyle amenities aimed at serving student housing demand near the university. Shared spaces will feature multiple dedicated study areas intended to support group work and individual focus. A resort-style pool and a pickleball court are planned to provide on-site recreation, while a fitness center will offer additional health and wellness options for residents.
On the services and convenience side, The Penny is slated to include package lockers to support e-commerce deliveries, as well as an automated market for on-site grab-and-go purchases. A pet relief area and washroom are incorporated into the design to make the building more accommodating for residents with pets.
The development team brings together several firms across architecture, construction and design. Rhode Partners is involved with the architectural component, Rycon Construction is contributing on the build side, and Mitchell & Morgan is participating in the project. Interior environments are being shaped by Rhode Interior Design, which is overseeing the look and feel of the shared spaces and residential units.
CIBC USA and First Bank of Chicago have provided construction financing for The Penny, supplying the capital needed to move the project through its development phase. With this financing in place, the team is positioned to advance construction toward the planned delivery ahead of the 2027 academic year.
The apartment community has selected Century Square as the location for its leasing office and showroom. Century Square is a mixed-use destination that combines premium retail and restaurant concepts with entertainment venues, Class-A office space and two full-service hotels, The George and Cavalry Court. The district also includes luxury apartment homes at 100 Park, giving The Penny’s leasing operations a presence within an established commercial and residential hub that already draws visitors, office users and residents.
The post Pinecrest’s The Penny to Deliver 605-Bed Student Tower Near Texas A&M in 2027 appeared first on CRE Market Beat.
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