Core Spaces and Tom Winkopp Development Form Joint Venture to Develop Clemson Student Village at The Pier

Rhea-AI Summary

Core Spaces and Tom Winkopp Development have announced a major joint venture to develop a 140-acre off-campus student village near Clemson University, featuring 4,000 beds and state-of-the-art amenities. This project expands upon the existing 1,400-bed facility called The Pier and aims to create a vibrant, walkable community for students. Construction is expected to elevate the area’s housing offerings and enhance the local economy. JLL Capital Markets facilitated the partnership, emphasizing the project's potential impact on Clemson's growth and student living experience.

Positive

• Development of a large-scale 140-acre off-campus student village with 4,000 beds.
• Significant expansion of housing options near Clemson University.
• Includes state-of-the-art amenities such as athletic facilities, pools, and clubhouses.

Negative

• None.

One of the Largest Off-Campus Student Development Projects Will Include 4,000 Beds, Beautifully Designed Purpose Built Student Accommodations, State-of-the-Art Amenities and New Walkable Downtown Location

CHICAGO--(BUSINESS WIRE)-- Chicago-based Core Spaces (“Core”), a vertically integrated residential real estate developer, owner, and operator, and Tom Winkopp Development (“Winkopp”) of Clemson today announced a joint venture to create one of the country’s largest off-campus student housing development projects into a 140-acre, walkable student village located near Clemson University’s campus.

The student village will include 4,000 beds, expanding upon the 1,400-bed student housing development known as The Pier, as well as state-of-the-art athletic and fitness facilities, pools, outdoor grills, student clubhouses, beachfront access, and waterfront trails. Once fully constructed, the site will feature a new downtown locale that is walkable, charming, and accessible to all students and the local community.

“At Core, our mission is to connect with our residents and create spaces where they can live how they want and do what they love. This project is among the most ambitious in our history, and we are pleased to partner with Tom Winkopp and his highly respected local development team to bring to Clemson University and its surrounding community a world-class college town environment,” said Daniel Goldberg, President of Core Spaces. “Clemson, South Carolina has experienced significant population growth due to its high quality of living, affordability, picturesque downtown, and favorable year-round climate as well as Clemson University’s strong enrollment rates.”

The development will also take a highly innovative approach to off-campus living by reimagining the entire student village experience from the ground up. Core will draw on its significant experience in developing and designing beautifully designed purpose-built student housing to create single-family neighborhoods and clusters of homes that have their own organic community feel. One of the key elements of the neighborhood will be the nine-bedroom homes that will be among the most unique off-campus student housing units in the country when finished.

The student village is one piece of a larger master-planned, mixed-use project on the entire 325-acre site to be developed by Tom Winkopp Development and partners during the next three to five years. Winkopp and partners have owned the land since 2007. Clemson Area Transit, a zero-fare bus line known locally as CAT and the most frequently used transit system in South Carolina, already provides bus service to and from the campus with stops every 30 minutes and eventually every 15 minutes.

“This is one of the most spectacular pieces of property located near a college campus we’ve ever seen,” said Joe Gatto, Managing Director of Acquisitions at Core Spaces. “We’re very excited to transform the space into a one-of-a-kind student village that residents will love. After we deliver 900 new beds in 2024, it will become one of the largest privately owned student housing projects in the country.”

“Core Spaces is nationally recognized as the best-in-class design-centric developer of purpose-built student housing, and they showed why immediately. I am thrilled to partner with them to bring this exciting project to life,” added Tom Winkopp. “I chose Core for its urban planning approach to projects that seamlessly stitch together the old and the new in terms of architecture and style. This is a one-of-a-kind opportunity to develop this type of property that will greatly benefit Clemson students and have a tremendous economic impact on the surrounding counties.”

JLL Capital Markets worked on behalf of the joint venture between Tom Winkopp Development and Core Spaces. The JLL team was led by Senior Director Teddy Leatherman and Directors John Gavigan and Warren Johnson.

“We were thrilled to connect Core Spaces with Tom Winkopp and cannot wait to see the final product,” said Leatherman.

About Core Spaces
Core Spaces is a vertically integrated company focused on acquiring, developing, and managing residential properties that create a better life for everyone under our roof. From world-class amenities and progressive design to client service with a hospitality-driven approach, Core Spaces provides living spaces and services that create a better daily life for its residents. Its projects are thoughtfully designed, customized, developed, and managed to create extraordinary lifestyle experiences that are as unique as their respective markets. Since its founding in 2010, Core has consistently delivered award-winning developments in top markets across the country. It currently owns and/or manages 37 properties nationwide – totaling over 16,000 units and beds – and has a pipeline of over 40,000 units and beds in various stages of development and acquisition. For more information, visit www.corespaces.com.

About Tom Winkopp Development
Tom Winkopp, the principal of Tom Winkopp Development, has 34 years of experience developing and marketing in the Upstate region of South Carolina. Since 1988, the company has done nearly 100 projects consisting of upscale waterfront condominiums and town homes, a master-planned golf course community, mixed-use commercial projects, a luxury hotel, and student housing projects. Tom Winkopp is a Past Chairman of the City of Clemson Chamber of Commerce and received the chamber’s 2004 Award for Small Business Person of the Year. Tom Winkopp grew up in Middletown Springs, Vermont and graduated from Clemson University in 1988. Tom has two children with his wife Shannon Hait.

About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220511006175/en/

Media

For Core Spaces

Nathaniel Garnick/Mark Semer

Gasthalter & Co.

(212) 257-4170

corespaces@gasthalter.com

Source: Core Spaces

FAQ

What is the recent project announced by JLL related to student housing?

JLL announced a joint venture between Core Spaces and Tom Winkopp Development to create a 140-acre student village with 4,000 beds near Clemson University.

How many beds will the new student housing development include?

The new student housing development will include 4,000 beds.

Who are the key partners in the Clemson student housing project?

The key partners in the project are Core Spaces and Tom Winkopp Development.

What amenities will the Clemson student village feature?

The Clemson student village will feature state-of-the-art athletic facilities, pools, outdoor grills, and student clubhouses.

When is the new student village project expected to be completed?

The project is part of a larger development expected to unfold over the next three to five years.