PHOENIX, AZ — Core Spaces and Harrison Street announced today announced that they intend to develop student housing properties in Auburn, Alabama, and Champaign, Illinois. The projects mark an expansion of Core Spaces’ and Harrison Street’s existing partnership and the first development projects the groups have jointly pursued.
TSB Capital Advisors proudly consulted on the joint ventures.
“Relationships have always been the most important part of our business, and we’ve been actively involved with Core and Harrison Street for years,” said Timothy S. Bradley of TSB Capital Advisors. “The strength of those long-standing relationships really came through in the execution of this venture during the most uncertain times of the early pandemic, when capital markets were most challenging. We’re proud to work with such trusted partners as Core and Harrison Street, and to help make this phenomenal deal happen.”
Prominently located at the intersection of Daniel Street and 6th Street, Hub on Campus Champaign will feature a 13-story, 394,000 gross square foot, 569-bed mixed-use high rise, and is conveniently located across the street from the Main Quad. The property also includes 9,000 square feet of retail space and 100,000 square feet of Class A office space already leased to the University of Illinois. The development will be open before the start of the 2021-2022 academic year.
The six-story Auburn development comprises over 625,000 square feet and will include 887 student housing beds. Located one block away from the heart of campus at Cox Street and West Glenn Avenue, the property will open by the start of the 2022-2023 academic year.
For more information, read the full release.