Summary:
- Cal Poly Pomona Enterprises (CPPE) acquired The Current, a 177-unit, 636-bed student housing community near campus, for $126 million to address a critical shortage of 1,761 beds identified in a 2023 housing demand assessment.
- The Current, built in 2024 by Gilbane Development and fully furnished, reached 100% occupancy at opening, highlighting strong local demand; CPPE now manages the property and has introduced enhanced student support and community programming on-site.
- CPPE will prioritize housing renewals and new leases for Cal Poly Pomona students starting July, phasing out non-student residents to better serve the university’s growing student population and improve the overall residential experience.
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