Gilbane Reaches Financial Close on Purpose-Built Student Housing Community at University of Oklahoma
Norman, Okla. (June 12, 2026) – Gilbane Development today announced financial close, in collaboration with Coleraine Capital Group, and financed by Santander and Fifth Third Bank on a purpose-built student housing community near the University of Oklahoma (OU) in Norman, Oklahoma. Situated on a 33-acre site at University of Oklahoma’s campus, the community is designed to serve the next generation of students at a university experiencing unprecedented growth.
The new student housing community will bring 298 units and 756 beds across four apartment-style residential buildings. The community will also offer a large landscaped open-space amenity area and ample parking. The project broke ground in June 2026 with completion slated for fall 2028.
“The financial close of this development marks an important milestone in addressing the growing demand for high-quality student housing near the University of Oklahoma,” said Andrew Ang, Executive Director, Development, Gilbane Development. “We are proud to partner with Coleraine Capital Group to deliver a student housing community that provides the next generation of Sooners with affordable, quality spaces to live, connect, and thrive.”
The project will feature a premier amenities package designed to meet the lifestyle of today’s students. Residents will have access to a clubhouse, pickleball courts, a resort-style pool and sun deck, and both indoor and outdoor fitness centers. Additional conveniences include dedicated study lounges, outdoor bike storage, and shuttle bus service providing direct connections to the University of Oklahoma campus.
“Gilbane has built its reputation on creating student housing communities that go beyond four walls and truly elevate the student experience,” said Russell Broderick, Executive Vice President, Gilbane Development. “This development reinforces our commitment to meeting the evolving needs of today’s students, and we are excited to deliver a community that reflects the ambition, spirit, and energy of the University of Oklahoma.
The University of Oklahoma is a flagship research institution renowned for pairing STEM and energy-sector innovation with top-tier athletics. Its academic reach spans meteorology, engineering, and health sciences, while its athletic program, anchored by nationally competitive football and softball, fuels a passionate student and alumni community.
Over the past two years, OU has recorded back-to-back record-setting full-time enrollment growth, increasing by 6.0% in 2024 and surpassing that milestone in 2025 with a 10.1% increase, adding 2,472 students. With existing purpose-built student housing stock largely unchanged since 2017, and off-campus properties averaging 96% occupancy, demand for modern, high-quality housing in Norman has never been stronger.
Gilbane has earned a reputation as a trusted partner to universities and institutions, serving as a leading developer of student housing communities across the nation. The firm’s commitment to higher education development reflects a broader strategy of creating purpose-built, community-driven spaces that support institutional growth and student success.
About GIlbane
Gilbane is the trusted leader in end-to-end solutions for the built environment, with integrated expertise across real estate investment, development, full-service construction, and property and facilities management.
Family-owned since 1870, Gilbane is one of the oldest and largest privately held real estate development and construction companies in the world. With more than 45 offices, and 4,000+ employees worldwide, Gilbane pairs global experience with deep community connections to empower clients to move from vision to long-term performance with confidence. Guided by values that put people first and prioritize innovation, Gilbane builds trust, strengthens communities, and is driven by a purpose to boldly shape the world. Learn more at gilbaneco.com.