Question-and-Answer Session
Operator
[Operator instructions]. And your first question comes from line Anthony Paolone with JPMorgan. Please proceed with your question.
Joseph Dazzio - JPMorgan Securities, Inc.
Hey, good morning, guys. It's Joe Dazzio here with Tony.
William Bayless, Jr.
Yes, go ahead.
Joseph Dazzio - JPMorgan Securities, Inc.
Question on the seven assets in the ACC legacy portfolio that are trialing a little bit on the fee leasing front. Can you just talk about little more about those, where they are, and kind of what's going on in those markets that have those assets?
William Bayless, Jr.
Sure. And, we have of course as you can imagine, the velocity trend for every property that we've owned for as long as we haven't. So, when we look at those seven, and I'll break them real quick, we have the villas at Chestnut Ridge in Buffalo, which is currently 67.4% compared to 92.3% last year. However, as you recall last year that was a development asset where we moved over all the students from Sweet Home. And so, as we look at that particular property, we still have rental rate growth there, we've excellent velocity above the market and while it is behind last year on a one year basis, we are not overly concerned.
The second property is Callaway Villas in College Station, Texas. And College Station is one of the markets where we did see some new supply come on this year on a high-end basis. We had the second... third phase actually to Town Home Community, a lot development that came in downtown. We've got three assets in that market. Callaway House is actually 103% applied for and Aggie Station is 54.7% applied for, both running inline or ahead of last year.
Callaway Villas is about 10% behind. We have a 1.8% rental rate increase that we have still been able to hold on there. It is trending above the marketplace, the one that is outside of its historical room. The third property is the Estate in Gainesville. And, Gainesville, as you would all recall from last year, is one of the most challenging markets in the nation.
What we saw happen at the very beginning of the lease-up prior to really anyone having velocity, a couple of the properties that did not fill up last year and even one that did fill up came out offering significant specials, some of the them $500 cash back. We've got three assets in that market, U-Club Gainesville, which is currently 45.7% leased compared to what we believe is a market average of 28% as of 2013, and we have a 3.8% rental rate increase there.
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