Off-Campus Student Living Community Is Just Steps Away from Virginia Commonwealth University
CAMDEN, NJ / ACCESS Newswire / October 20, 2026 / The Michaels Organization, a national leader in residential real estate, announced today that it has achieved a financial closing to acquire 8 ½ Canal Street, a premier student housing community serving Virginia Commonwealth University in Richmond, VA. Located at 8 ½ West Canal Street, the community is ideally situated within easy walking distance to the center of VCU’s Monroe Park Campus.
“We are delighted to welcome this high-quality asset into our student living portfolio,” said Kevin Gates, Michaels’ Senior Vice President of Capital & Transactions Management. ” This amenity-rich community offers the University’s growing enrollment an off-campus housing option designed specifically for students.”
Featuring 160 apartment homes and 540 beds, along with two levels of secure covered parking, 8 ½ Canal Street offers fully furnished one-, two-, three-, and four-bedroom apartment homes, with floor plans designed specifically around the way students live, study, and connect. Private bedrooms and bathrooms, in-unit conveniences, and thoughtfully designed community spaces provide residents with a balance of privacy, academic support, wellness, and social engagement.
The community offers an extensive collection of student-focused amenities, including:
- A 24-hour Academic Success Center with iMac computers and complimentary printing
- A 24-hour fitness center and dedicated yoga studio
- A recreation center featuring billiards, ping-pong, foosball, arcade games and a TV lounge
- Open-air courtyard lounges and outdoor gathering areas
- Barbecue grills and a half-court basketball area
- Community kitchen and coffee bar
- High-speed internet and Wi-Fi throughout the community.
Michaels Management will assume management of the community, bringing Michaels’ operational expertise and resident-focused approach that supports both academic success and an exceptional living experience.
Neither the seller nor the financial terms were disclosed.
About The Michaels Organization
Michaels is a national leader in residential real estate, offering full-service capabilities in development, property and asset management, construction, and investment. Serving more than 200,000 residents in almost 600 communities across 39 states, the District of Columbia, and the U.S. Virgin Islands, Michaels is committed to crafting housing solutions that jumpstart education, civic engagement and neighborhood prosperity, and to creating Communities that Lift Lives.
Contact Information
Laura Zaner
Vice President, Michaels Corporate Marketing
lzaner@tmo.com
856-988-5983; 856-630-1540
SOURCE: The Michaels Organization
View the original press release on ACCESS Newswire
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