Gilbane Opens Student Housing Community

Bixby on College. Image courtesy of Gilbane Development Co.

Gilbane Development Co. has completed Bixby on College, a 107-unit community with 383 beds designed for Clemson University’s students in Clemson, S.C.

The property is now open to residents. The project’s on-time delivery and move-in day were a success, the company announced. Asset Living manages the community, which is fully leased for the fall of 2022.

The development was funded through a $35 million construction loan originated by Rockland Trust Co. in 2020, Yardi Matrix data shows.

Located at 405 College Ave., the two-building property encompasses two-, three- and four-bedroom apartments ranging from 831 square feet to 1,587 square feet. Units are equipped with a washer and dryer, kitchen, flat-screen TV and high-speed internet. Common-area amenities include a fitness center, a business center, a clubhouse, a courtyard with a heated swimming pool, a gaming area, an outdoor kitchen, study rooms, a computer lab and 377 parking spots. The property also includes some 14,500 square feet of retail space available on the first floor of the building on College Avenue.

A superior living and learning environment

The student housing community is situated close to multiple shopping venues, such as Walmart and Walgreens, and recreational areas including Memorial Stadium, Fike Recreational Center and Little John Coliseum.

Gilbane Development Co.’s Senior Vice President Russell Broderick commented in a prepared statement that the community’s location, housing amenities and proximity to commercial spaces will provide Clemson students a superior living and learning environment for many years to come.

The company’s completed projects include more than 20,000 beds of student housing, as well as multifamily properties, affordable housing and other asset types. Recently, the company celebrated the opening of Peninsula 1B, a $121 million affordable housing development in New York City. In a partnership with Amazon and Metro, Gilbane also plans to develop a 451-unit affordable community in College Park, Md. Amazon is funding the project with a $56.3 million loan.

The student housing sector has performed well coming out of the pandemic and should continue to improve in the coming years. Universities with more than 30,000 students are outperforming the smaller ones.