ob体育开户流程备用网址

Our Role

RPL served as an investor representative and provided due diligence and development oversight services on behalf of a private equity group.

Unique Approach

• Project required combining multiple lots in downtown State College, adjacent to a PennDOT-maintained state highway.
• Coordination of multiple stakeholders and investors for design, including space for a new Hillel Jewish Center, retail, and parking.
• Project encountered some soil challenges and was shut down for approximately 3 months due to COVID-19 – team navigated through keeping the project on track.

Outcomes

• Project delivered later than scheduled but opened in time for students.
• Project completed on budget.
• High quality product in a great location.
• Completed building sold quickly to next owner.

Scope of Work

Development of a luxury off-campus apartment building located in downtown State College, serving students of the Penn State University. The property includes several types of residential units, high-end amenities including a golf simulator, indoor spa, and penthouse lounge.  It also includes two levels or retail spaces and underground parking and bike storage.

Project Summary

• Client: Equity group of confidential insurance carrier
• Location: State College, PA
• Size: 756 beds, 227 units, 12 floors, 440,000 GSF
• Timeline: 2018 to 2021
• Services: Due Diligence and Development Oversight
• Cost $142 million
• Architect: Shepley Bulfinch
• Contractor: Brinkmann Constructors