Cal Poly Pomona Acquired 636-bed Apartments for $126 Million to Expand Student Housing
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Cal Poly Pomona acquired a 636-bed student housing apartment building from developer Gilbane Inc. for $126 million, or $198,000 per bed. The building, dubbed The Current, was constructed in 2024 and includes 177 units with up to five bedrooms and is now operated as part of the university’s student housing.
At a university board meeting in April, Cal Poly Pomona Enterprises Chief Executive Jared Ceja noted that a study conducted by JLL found that it had a net deficit of 1,761 beds needed to fulfill student housing demand.
Amenities include a pool, fitness center, social lounges and private study rooms. The property offers a campus shuttle and full-time on-site management. Additional perks include high-speed internet, a coffee bar and a pet spa. It is fully leased for the fall semester.
Information for this article was sourced from Cal Poly Pomona.
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