CLEMSON, SC - Amplify Development Company, a national real estate development and investment management company with expertise in the ground-up development and value-add acquisition of student housing, multifamily and mixed-use assets, has acquired a premier Greek housing property at Clemson University. The acquisition is the firm’s fourth Greek housing-focused property.
Located at 173 Old Greenville Highway along the northern edge of the university’s campus, the Tiger House is situated on a nearly 24,000-square-foot lot with 15 private surface parking spaces and consists of three stories, multiple kitchen, dining and common areas, and 10 units that can accommodate 20-30 beds.
The property is steps from Clemson Memorial Stadium, popularly known as “Death Valley”, Littlejohn Coliseum, Fike Recreation Center, the main fitness building on Clemson’s campus, and Cooper Library, and less than a five-minute walk to downtown Clemson and College Avenue, where many of the town’s retail, dining and nightlife options are located.
“The Clemson market has demonstrated significant growth over the past 10 years, and we’re thrilled to expand our Greek Housing Investment Platform with an ideally located property at such a prestigious university,” said Alec Paddock, managing director and co-founder of Amplify Development Company. “Properties of this size and desirable location rarely become available, making it one of the most sought-after rental properties in the area.”
Amplify intends to improve the property by making cosmetic and interior renovations and has secured a multi-year master lease with an established national Greek organization and housing corporation that is in good standing with the university.
“In addition to our planned renovations, we will apply our best practices with regard to operating Greek housing assets to ensure the responsible use of the property and have engaged with several of the most well-respected Clemson-area property management companies to oversee the property,” added Paddock.
“The area north of Old Greenville Highway is considered by many to be located within the future path of growth in the city of Clemson. Our top priority is to maintain and improve the existing Greek housing use in the near term, but we also see the site as a potential redevelopment opportunity in the future, should the city of Clemson see a need for more privately-owned traditional student housing products.”
Amplify is active in the Greek housing sector with assets under management at Penn State University and Colorado State University and intends to continue to grow its investment platform at dynamic, high-growth university markets like Clemson. It also recently sold a Greek housing asset at San Diego State University.