Preiss and FD Stonewater Reveal Two Signature Student Housing Projects in Raleigh and Knoxville Adding One Thousand Two Hundred Seven Beds

Preiss, a national student housing and multifamily owner, developer, and operator, in partnership with FD Stonewater, has announced two new purpose-built student housing developments: Signature at Varsity in Raleigh, North Carolina, and Signature on Grand in Knoxville, Tennessee. Both projects are scheduled for delivery in Fall 2027 and will add a combined 1,207 beds to two major university markets.

Signature at Varsity, located at 1400 Crest Road across from NC State’s Greek Village, will offer 679 beds with amenity programming oriented to student leaders and Greek life. Planned features include a rooftop pool with poolside jumbotron, a two-story fitness center, expansive courtyard spaces, a putting green, collaborative lounges, and a Lenovo Esports gaming lounge.

Signature on Grand, at 1727 Grand Avenue in the Fort Sanders neighborhood near the University of Tennessee Knoxville, will provide 528 beds and an off-campus residential option intended to ease pressure on the Cumberland Avenue corridor. Community amenities will include a courtyard pool with poolside jumbotron, a two-story fitness center, outdoor TV lounge areas, dedicated study spaces, and bike and e-scooter storage.

Both properties will offer studio through five-bedroom floor plans, delivered fully furnished with hardwood-style flooring, granite countertops, stainless steel appliances, and LED vanities. Select units will include private patios or balconies, walk-in closets, and glass shower enclosures.

The developments emphasize technology and sustainability. Unit-level features include mobile-wallet integrated smart locks, smart thermostats, and direct fiber-to-unit internet with speeds up to 1 Gbps. Community-level systems will include advanced leak detection and on-site EV charging stations. Partnerships with Miravel for living plant walls and Tulu for intelligent vending will add operational and resident conveniences.

"As a company rooted in Raleigh, we are especially proud to deepen our presence near NC State while simultaneously expanding our footprint at UT Knoxville," said Jeff Bartholomew, Executive Vice President of Development and Construction Services at Preiss. "Raleigh and Knoxville are two of the most dynamic university markets in the country, and we believe Signature at Varsity and Signature on Grand will meet the growing demand for premier, walkable, and tech-forward off campus housing options."

For operators, investors, and product partners, these projects reflect continued demand for amenity-rich, tech-enabled student housing that prioritizes convenience, wellness, and connectivity. Multifamily Leadership will track construction milestones and lease-up strategies as these assets move toward delivery.