Nations Group, a capital project firm specialising in collegiate athletics, has unveiled a new Club Residences offering that will seek to open up new revenue streams for universities.
Nations Group is expanding its traditional owners’ representative stadium development model by assembling a team of university real estate professionals to plan, develop, finance, build and maintain condominiums adjacent to sports venues on college campuses.
The exclusive units will be designed for “premier university supporters” and will typically serve as second residences. The Club Residences will sell at a premium, which Nations Group said will allow athletics departments to benefit from a revenue source that will generate “significant dollars” in the short and long term.
Nations Group noted that residential communities at alma maters are a “popular and growing real estate niche” and establishing such communities near athletics facilities is viewed as an appealing revenue stream. It is hoped the developments will foster “university synergy” by bringing supporters together in an on-campus community.
Chris Nations, president of Nations Group, said: “Our goal is to partner with universities, and specifically their athletic departments, to design residential communities tailored to the school’s brand and provide their supporters with first-class residences in highly sought after locations.”
He added: “Now is the time for creative solutions by bringing new products to the collegiate market. This residential concept is a viable option for doing so and it is a natural extension of our traditional business model and existing relationships.”
Nations Group has worked with the University of South Carolina on its planned renovation of the 77,000-capacity Williams-Brice Stadium. The company is also serving as a consultant for Pennsylvania State University’s $700m (£549m/€665m) redevelopment of the 100,000-capacity Beaver Stadium.
Nations Group is headquartered in Scottsdale, Arizona and has been active in the owners’ representative space since 2008. The company also works with Northwestern University, Oregon State University, Indiana University, University of Kansas and many other colleges across the US.
