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This website is for informational purposes only and does not constitute an offer, solicitation, or recommendation to sell or an offer to purchase any securities, investment products, or investment advisory services. This website and the information set forth herein are current as of June 30, 2023, and are not intended to provide investment recommendations or advice.

Mixed Use Case Study

UC Hastings College of the Law—Academic Village

Project Overview

Greystar in Fall 2023 completed the on-time delivery of The Academe at 198 in downtown San Francisco. The housing is offered at rental rates as much as 25% below market to graduate students and faculty of UC College of the Law San Francisco, affiliated research centers, and other participating universities in the city, with shuttle service provided between campuses. The combination of other disciplines with UC Law students brings together students from multiple fields of study.

In March 2024, the project was awarded the San Francisco Business Times Community Impact of the Year Award for adding needed housing while positively transforming the neighborhood. The Academe at 198 also received two 2024 Innovator Awards from Student Housing Business Magazine:

Best On-Campus Implementation of Mixed-Use or Live-Learn
Best On-Campus Public/Private Financing Solution

Despite challenges brought on by the COVID-19 pandemic, the University and Greystar were able to orchestrate the sale of tax-exempt, project-revenue bonds to fund the project in the fall of 2020. The project utilized financially beneficial green bonds, which are only available to projects determined to have positive sustainability, environmental, and wellness benefits.

Project Specs

Beds | Units: 667 | 656

Gross Size: 375,584 square feet

Room Styles: Studio, 1, and 2 bedrooms

Amenities: Fitness center, study lounges, community kitchens, auditorium, classrooms, offices, and retail space

Completion: 2023

Cost: $282 million

Developer: Greystar

Manager: University

University Owner: 501(c)3

Financing: Tax exempt bonds

Sustainability: LEED Silver

"We are excited to be moving forward with Greystar to further develop this vibrant academic village in the heart of San Francisco."

David Faigman, Chancellor and Dean, UC Hastings College of the Law