Editor’s Note: An updated version of this article was published on March 16, 2021.
Hub on Campus Blacksburg’s and Union Blacksburg Apartments’ construction, respectively located off Patrick Henry Drive and University City Boulevard, appears to be in full swing.
“From a student housing perspective, Blacksburg is a great market to be a part of,” said Tyler Kowcheck, regional manager for Core Spaces. “We believe we can provide an uplifting experience for the evolving needs of college residents, while contributing to the city’s growth.”
Chicago-based Core Spaces announced a joint venture with Kayne Anderson Real Estate in October 2019 where the two bought properties owned by The Reliant Group, owners of Terrace View, in order to develop Hub on Campus Blacksburg.
702 beds will be available when phase one of construction finalizes and units become open to tenants in August 2021, and the remaining 828 beds in phase two will open in 2022.
Other “Hub on Campus” spin-off properties already exist for students at other institutions such as the University of Kentucky, the University of South Carolina, the University of Alabama and Auburn University.
“Blacksburg is a great fit for a Hub on Campus property,” said Core Spaces Founder and Chief Executive Officer Marc Lifshin in an October 2019 press release. “We are excited to partner with Kayne Anderson to provide an unparalleled living community to Virginia Tech students.”
Kayne Anderson Real Estate’s Managing Director Craig Zogby was second to say the company was “excited” to work with Core Spaces in Blacksburg.
According to Kowcheck, Core Spaces will be implementing world-class amenities, units and finishes where tenants will have the opportunities to “have fun, grow as individuals and build relationships that last a lifetime.”
Core Spaces promotes its “Hub Lifestyle” as one that is different from other communities, with property management focusing on hospitality, wellness, development, community and partnerships.
“We support wellness and health with programs and amenities that help residents manage the stresses of everyday life,” Kowcheck said. “Our maintenance team, management team and experiential staff all work in coordination to ensure each resident has their needs met while living at Hub.”
South Carolina-based Greystar Real Estate Partners appear to be involved in Union Blacksburg Apartments’ construction. Though the company could not be immediately reached for comment, Greystar has apparently received properties owned by the former Sturbridge Square Apartments and Townhomes and Sturbridge Gardens Apartments.
According to its media kit, Greystar serves as the second largest owner and operator of student housing in the United States and focuses on implementing environmentally minded practices like reducing energy, greenhouse gas emissions, water usage and waste.
Union Blacksburg Apartments will not be Greystar’s first Blacksburg endeavor, as it owns The Retreat at Blacksburg properties located off Prices Fork Road.
“We are happy to see others investing in an amazing community,” said Kowcheck.