By Angela Gonzales for Phoenix Business Journal
In an effort to grow to 400 acres, Grand Canyon Education Inc. is methodically acquiring apartment complexes and vacant land surrounding its GCU campus at 33rd Avenue and Camelback Road in Phoenix.
Plans call for buying property and apartment complexes surrounding the campus so that eventually the GCU campus will be bounded by 35th Avenue on the west, Missouri Avenue on the north, 27th Avenue on the east and Camelback Road on the south.
GCU paid $1M to Monarch Colter Venture LP for a vacant parcel that used to be an apartment complex at 2530 W. Colter St., Phoenix. This property is near the 35 acres that GCU now owns at 27th Avenue and Camelback Road, which is being transformed into a student-run hotel and restaurant as part of its new hospitality management program.
It also will include a convention center for education, churches and businesses, as well as an office complex that will house 1,600 GCU employees. Already, GCU has 700 employees in an office complex converted from a swap mart on that site.
Brian Mueller, CEO of Grand Canyon Education and president of GCU, said the company is investing $40M into that project.
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