The Chapel Hill Planning Commission met Tuesday night and passed a modified project plan for The Graduate, a residential building that would be next to the Franklin Hotel.
Jay Patel, project developer and general manager of The Franklin Hotel, said he is excited to be able to provide graduate students with a housing option.
“It’s meeting a need that has not been met,” Patel said. “Most of the plans have targeted undergraduates.”
Though the original plan included undergraduate housing options, the new plan gears its units toward graduate students, medical students and other professionals in the area.
“These are people who are living and working in the area,” Patel said. “For that type of clientele to have that rental option is really important.”
If the Chapel Hill Town Council passes the proposal this fall, Patel said he hopes to start building in early 2015.
“It’s all goals and expectations right now,” Patel said. “It all depends on the timing of the approving.”
Instead of the typical student setup of renting by the bedroom, John McAdams of the John R. McAdams Company — which is working with Patel on the project — said it would charge rent by the unit to cater to working residents.