15-story, 247-unit Edge at College Hill sold to national firm

HAWKINS WAY Capital, a New York and Los Angeles real estate company, has purchased The Edge at College Hill, a 15-story residential building constructed along Canal Street in Providence in 2018. / COURTESY THE EDGE ON COLLEGE HILL

PROVIDENCE – Hawkins Way Capital, a vertically integrated real estate company with offices in New York and Los Angeles, announced Wednesday that it has purchased The Edge at College Hill, a 15-story, 247-unit student housing building at Canal and Elizabeth streets. 

The purchase price and terms of the acquisition were not disclosed. 

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The building, which has a formal address of 100 North Main St., is close to Brown University, Rhode Island School of Design and Johnson & Wales University, situated at the bottom of College Hill, along the edge of the downtown area. The 15-story tower was constructed in 2018.

The property will be renamed FOUND Study College Hill as part of the group’s FOUND student housing network of 3,000-plus beds after renovations are completed. 

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“FOUND Study College Hill, located on Providence’s Main Street and proximate to ample shopping, dining and entertainment destinations, is positioned to provide high-value housing for local students in a market historically lacking premium student housing supply,” said Ross Walker, Hawkins Way Capital’s managing partner. “Bolstered by a return to campus and rising enrollments, the community will service students seeking turn-key, modern accommodations and priced-out of other product. In addition, this should help alleviate affordable housing supply for local residents who have been pushed out of some neighborhoods by students.” 

The College Hill transaction is the seventh acquisition since December 2021 for Hawkins Way Capital, combining to over 2,700 new units and over $930 million in investments. 

Hawkins Way Capital, co-founded by managing partners Ross Walker and Karan Suri, has $1.5 billion of assets under management on behalf of institutions and individuals focused on value-add and opportunistic investments across various asset classes and geographies. 

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