The 12-Story Student Housing Community Delivers Over 1,300 Beds and 25,000 Square Feet of Amenity Space
Caption: Members of the development team for VERVE Charlottesville, a new student housing development next to UVA grounds, posed at the official groundbreaking ceremony held on April 23.
CHARLOTTESVILLE, VA. – APRIL 24, 2025 – Subtext, a national real estate company focused on elevating the resident experience, celebrated construction milestones at a groundbreaking ceremony for VERVE Charlottesville, a transformative student housing development located at 100 Stadium Road, adjacent to the University of Virginia (UVA) Grounds. The project, which is Subtext’s largest development to date and its first in Virginia, is being developed with joint venture equity partner Kayne Anderson Real Estate and will be completed in Summer 2027.
The groundbreaking event welcomed representatives from Subtext and Kayne Anderson Real Estate, general contractor John Moriarty & Associates, lender Sumitomo Mitsui Banking Corporation (SMBC), ESG Architecture & Design, local consulting architect WOLF ACKERMAN DESIGN, landscape architect AJC Design Group, structural engineering firm SK&A, civil engineering firm Timmons Group, local counsel Williams Mullen, and city officials to celebrate the future addition of much-needed housing to the UVA community.
“VERVE Charlottesville is a reflection of what we stand for—design-forward, resident-focused communities built around the way students actually live,” said Brandt Stiles, Founding Partner at Subtext. “We’re excited to bring the energy of VERVE to Charlottesville, a city with deep roots, strong culture, and one of the most respected academic communities in the country.”
Once complete, the 12-story, 729,262-square-foot community will deliver 1,332 beds across 463 units, offering a range of studio, one-, two-, three-, and four-bedroom layouts. Designed to foster both academic success and social connection, VERVE Charlottesville will feature more than 25,000 square feet of curated amenity space, including a fireside lobby lounge, coffee café, dedicated library and study areas, a two-story fitness and wellness center, an outdoor fitness lawn, a multi-sport game lounge, F1 driving simulator, makerspace, pool terrace, and pet-friendly offerings such as a dog spa and pet park.
In addition to bringing new housing to the market, VERVE Charlottesville will contribute $6.8 million to the Charlottesville Affordable Housing Fund as part of its development agreement, reinforcing Subtext’s long-term commitment to investing in the city’s future.
About Subtext
Subtext is a vertically integrated, national real estate company focused on elevating the resident experience. From student living to attainable housing to conventional multifamily, Subtext creates thoughtfully designed communities that foster connection, productivity, and well-being. Its resident-first approach combines top-tier expertise, in-depth market research, and resident feedback to deliver lasting value. Subtext cultivates spaces where renters can live their best lives. For more information about Subtext, or to inquire about opportunities, visit subtextliving.com.
About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $17 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $37 billion alternative investment management firm with more than 41 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit www.kayneanderson.com/real-estate/. (As of March 2025)
