Tarleton seals deal to acquire Bosque Crossing Apartments
STEPHENVILLE — Tarleton State University last week finalized the purchase of the Bosque Crossing Apartments, within walking distance from the Stephenville campus across West Vanderbilt Street.
Approved by The Texas A&M University System Board of Regents earlier this year, the 173-unit one- and two-bedroom complex with covered parking will increase housing options for graduate students as well as students with families, those who need to remain on campus throughout their academic experience, and those with specific medical needs.
Funding — $19 million plus closing costs — comes from the issuance of bonds through the A&M System, to be repaid from Tarleton housing revenue.
“Purchase of the Bosque Crossing Apartments is critical to increasing the availability and improving the affordability of our housing options,” said Tarleton President James Hurley. “As enrollment continues to grow and more Texans call Stephenville home, more housing is needed. This is a great opportunity to better serve our students and our community.”
Tarleton’s current apartment-style living makes up only 10 percent of housing inventory, with less than 1 percent being one- and two-bedroom units. A 6 percent growth in fall 2020 enrollment forced the university to lease off-campus bed spaces and explore hotel room rentals.
Sitting on almost three acres, the Bosque Crossing was built in 2005 and renovated in 2018. The complex includes fitness and business centers, a clubhouse and pool, and a courtyard. Current occupancy is 95 percent.