FORT MYERS, FL – CAPREIT, a fully integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, announced it has bought Coastal Village, a 200-home, 800-bed student housing community in south Fort Myers.
Situated at 19401 Skidmore Way, Coastal Village sits within a quick commute of Florida Gulf Coast University, a Division I college attended by approximately 16,000 students. CAPREIT’s acquisition of the off-campus community represents the company’s entry into the student housing sector.
“Residents of student housing want all the same things that traditional apartment residents want—namely, superior property management and white-glove service,” said Andrew Kadish, CEO of CAPREIT. “It’s that kind of touch that CAPREIT can bring to Coastal Village and the student housing industry. The relatively consistent and reliable demand in the student housing sector, combined with our desire to secure steady returns and significant capital appreciation for our investors, gives CAPREIT the perfect opportunity to enter student housing.”
With a portfolio mostly composed of market-rate and workforce apartments, CAPREIT has recently expanded into new verticals. Prior to joining the student space, the company entered the single-family, build-to-rent sector with the 2024 acquisition of Baldwin Chase in Greenville, S.C.
Coastal Village, originally built in 2004, is a pet-friendly community and offers fully furnished homes—each with four private bedrooms. Community amenities include an outdoor swimming pool, fire pit, resident lounge, coffee bar, private study spaces and an onsite fitness center. Apartment homes include upgraded kitchens with granite countertops and center islands, built-in desks in each room, full-size washers and dryers, central air conditioning and private patios or balconies.
In addition to the Florida Gulf Coast University campus, the community offers quick connectivity to the multitude of shopping options at Three Oaks Town Center and the vast recreational opportunities at Bonita Nature Place. Additionally, Florida SouthWestern State College is located 12 miles northwest of the community.

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KINGSTON, RI – Gilbane announced its collaboration with the University of Rhode Island (URI) to develop and construct up to 1,100 additional on-campus beds through a new, innovative public-private partnership. This initiative will address growing student demand for on-campus housing and underscores both URI’s and Gilbane’s commitment to enhancing the student experience at the state’s flagship research university.
Selected through a competitive proposal process, Gilbane will lease University-owned land to plot, finance, design, construct, and manage the new residence halls on URI’s Kingston Campus. With a legacy spanning 150 years, Providence-based Gilbane has a proven track record of delivering innovative housing solutions in collaboration with higher education institutions nationwide. This latest project highlights the company’s commitment to making resource-efficient, student-focused communities that meet the evolving needs of universities and their students.
Gilbane is pleased to partner with URI on this significant project, which reflects our shared commitment to enhancing the student experience,” said Zach Tronti, development director of Gilbane Development. “This collaboration underscores our dedication to developing high-quality, accessible housing that supports academic success and fosters a vibrant campus community. It’s rewarding to be working towards a project that will have a lasting impact at URI and in our home state of Rhode Island.”
These modern apartment-style residential buildings will provide a vibrant, inclusive, and academically supportive environment for undergraduate and graduate students to thrive. Construction is expected to start in fall 2025 following a feasibility and pre-development activity period, with the first occupancy plotted for fall 2027.
“Gilbane is thrilled to continue our longstanding partnership with URI on this innovative project,” said Mike Busam, Gilbane Building’s Rhode Island Business Leader. “This is incredibly rewarding given our long history with the University, where Gilbane has contributed to enriching the campus over the past decades, constructing multiple facilities, including the Ryan Center and Center for Bio-Life Sciences, among others. We’re looking forward to returning to campus!”
The new project aligns with URI’s strategic plot, Focus URI, and builds on a decade of campus advancements, further cementing URI’s reputation as a top-tier institution that prioritizes student success.
“This public-private partnership offers many benefits to the University and our students,” said Abby Benson, vice president for administration and finance, University of Rhode Island. “The partnership enables us to address the growing demand for on-campus housing expressed by URI students. It also enables us to develop new housing on an accelerated timeline while ensuring fiscal responsibility.”
“CannonDesign is honored to be working with two clients with whom we have a rich history, URI and Gilbane Development, in support of URI’s mission to expand and elevate student experience on campus.” said Lynne Deninger, AIA, Principal of CannonDesign.

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SCOTCH PLAINS, NJ – Benchmark Senior Living, the largest senior living provider in New England, is, once again, expanding its Northeast footprint. Last month, the company started construction on a new helped living and memory care community located at 1814 Raritan Road in Scotch Plains, NJ.
Also under development is Benchmark at Mount Pleasant, in Thornwood, NY, Benchmark’s first Westchester County community. It will become the company’s third New York community when it opens this spring.
“We’re excited to bring the high-quality and compassionate care Benchmark has built its reputation on for nearly 30 years to the residents of Scotch Plains and beyond,” said Tom Grape, founder, chairman and CEO of Benchmark. “Scotch Plains and the Mount Pleasant projects will be among several new communities to join the Benchmark family in the near future, as we concentrate on growing our footprint in the Boston-to-DC corridor.”
As the first helped living community in Scotch Plains, which is located approximately 13 miles south of Morristown, NJ and 20 miles southwest of New York City, it will bring much-needed senior care to Western Union County.
Scotch Plains is known for its numerous recreational opportunities including the adjacent Ashbrook Reservation. The township is rich in history with many Revolutionary War sites and the first African-American Country Club in the country, which was founded in 1921 and played host to many well-known Black musicians.
The location is ideally suited for seniors desiring a wide range of nearby activities as well as multi-generational families with many schools close by. Residents will be able to take in the surrounding area from a walking path that surrounds the community while visiting many neighboring sites, such as the Academy for Performing Arts, golf courses, a community pool, scenic walking trails and churches.
The community will offer residents and their loved ones 81,692 square feet of indoor and outdoor space spread out over three floors, including 86 studio and one-bedroom apartments with kitchenettes and handicap-adaptable bathrooms. On the first floor, off the grand staircase adorned lobby, a bistro, club room, dining rooms, recreational room and several outdoor patios and porches, some offering outdoor dining, will beckon residents to connect and engage. For those with dementia and Alzheimer’s, the secure Mind & Memory Care neighborhood will feature Benchmark’s signature programs administered by specially trained associates in a variety of spaces as well as amenities like a dedicated outdoor patio, dining room, hair salon and recreation room. Circadian rhythm lighting will automatically adjust throughout the day to help minimize “sundowning,” a common symptom of dementia, which causes a state of confusion and agitation in the late afternoon and evening.
On the second and third floors, residents will delight in additional amenities, including a wellness center with fitness center and rehabilitation room, hair salon, library, lounge, movie theater and multipurpose room for events and other programs. A rooftop deck will host regular social hours and other events.
For those who need it, Benchmark will provide 24/7 personalized care, including help with daily living activities like bathing, getting dressed and medication management.
Benchmark in Scotch Plains is being developed in partnership with Newton, Mass.-based National Development. Capitol Seniors Housing of Washington, DC, whose work has been instrumental in bringing the project to life, will continue to provide some development services. Meyer Design of Ardmore, Penn., is providing architectural and interior design services for the project. Philadelphia based IMC Construction will serve as general contractor.

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