Columbia, SC – Colliers International’s Tripp Bradley, CCIM and Neel Keenan represented the buyer, Peak Campus Development, in the purchase of approximately 4.06 acres of land at the intersection of Harden and Gervais streets. The land, which includes the former Greyhound bus station, was purchased as a result of an assemblage of three separate parcels from three sellers, and will be developed into a new student housing project.
Peak Campus Development intends to develop a student housing complex of 218 units with 660 beds, along with a parking facility which will accommodate up to 557 cars and 165 bicycles. The project will cost approximately $50 million. Construction will begin by the April 2015 with a delivery date by the start of the school year in August 2016.
This project is the latest in a student housing boom in Columbia in recent years, fueled by the student population growth at the University of South Carolina. The new multifamily complex will also anchor the redevelopment of the Gervais Street Corridor, which includes projects like the USC Law School and the conversion of Clarion Hotel to Hilton Garden Inn and Home2Suites.
Bradley, a Senior Brokerage Associate, specializes in retail land and site selection. Keenan, a Senior Vice President and Principal of Colliers International South Carolina, specializes in the sale of investment real estate and predevelopment land.