Real Estate Development Case Study
Xavier University chose Messer not only for our construction skills, but also to be the Master Developer after the project had stalled twice with prior developers.
University Station Mixed-Use Development Phase 1
Messer has worked with Xavier University for nearly 50 years. Xavier turned to Messer to lead this project because of our transparent nature and proven ability to successfully lead large, complex projects. Under Messer’s leadership, the University’s vision came to life.
The University’s goal was to simultaneously expand student housing and better integrate their campus with the surrounding community:
- $52M mixed-use development
- $6M total equity investment
- Complex capital stack utilized TIF, NMTC and bank debt
- 315,000 sf of mixed-use development space including: 176 student apartments (approximately 480 beds) adjacent to Xavier University, 40,000 sf of office space and 36,000 sf of retail space
- Achieved 21% Small-, Minority- and Women-owned Business Enterprise participation, surpassing the owner’s requirement