Greystar JV Advances Student Housing Project
The 1,505-bed community is slated for a phased delivery starting 2028.
Greystar, Penn State and JLC Infrastructure has closed on University Drive, a 1,505-bed student housing development at Pennsylvania State University’s main campus in State College, Pa.
University Drive marks Greystar’s second student housing investment through its infrastructure platform and its third student housing development partnership with JLC. At full build-out, the community will include four podium-style buildings totaling 703 units.
Construction began a few weeks ago. The first phase is scheduled for delivery in May 2028, ahead of the academic year, while the second phase is expected to open before the fall 2029 semester.
READ ALSO: National Student Housing Report – June 2026
The community will rise at the northeast corner of University Park, within walking distance of Pollock Commons dining hall. The site is also adjacent to athletic facilities and directly connected to the CATA Blue and White Loop bus routes.
The unit mix will include studio, one-, three- and four-bedroom layouts, all with full kitchens and laundry facilities. Common-area amenities will feature fitness rooms and landscaped outdoor areas, among others.
University Drive is Penn State’s first public-private partnership student housing project. The development is intended to help address demand for on-campus housing, enabling non-first-year students to lease units from Greystar.
Greystar’s recent public-private partnerships
The project adds to Greystar’s consistent student housing development pipeline. A month ago, the company partnered with the University of Pennsylvania for the redevelopment of an existing student housing project totaling 493 beds. The Philadelphia project is set to open in time for the 2027 academic year.
In another public-private partnership, the University of Mississippi and Greystar started construction on a 1,282-bed student housing development in Oxford, Miss. This marks the first phase of a larger project that will include about 2,800 beds when complete.
