PHOENIX, AZ - TSB Capital Advisors, the national leader in student housing and multifamily real estate advisory services, successfully arranged financing on behalf of Up Campus Student Living for the construction of Blume on Ivy, a 231-unit, 641-bed luxury student housing property located near the University of Virginia in Charlottesville, Virginia. Fifth Third Bank provided the construction debt with additional participation from First Citizens Bank.
“This project is perfectly located between UVA’s main and north campuses along the burgeoning Ivy Road Corridor,” said Ian Bradley of TSB Capital Advisors. “We’re excited to be a part of this outstanding addition to the Charlottesville market and proud of all included that made it come to fruition.”
Blume on Ivy will offer one-, two-, three- and four-bedroom floor plans featuring cutting-edge design, premium finishes and top-of-market community amenities. Units will be fully furnished with woodgrain flooring, LED bathroom vanity mirrors, walk-in showers, stainless steel appliances, quartz kitchen countertops, flat-screen TVs, custom roller shades, and in-unit washer and dryer. The amenities are highlighted by a resort-style pool and rooftop entertainment deck featuring a jumbotron, cabanas, grills and fire pits, with direct views of the UVA Grounds and the new Ivy Road Corridor UVA Conference Center, Data Science School, and UVA Athletics complex. The property’s 20,000+ square feet of interior and exterior amenity space also includes a gameday lounge, golf simulator, boutique health and wellness center with private cross-training studios, and a sauna-spa.
“We’re pleased to announce groundbreaking of ‘Blume on Ivy’ at UVA, one of our favorite campuses in the US, and are excited to deliver this Class ‘A’ project for Fall 2027. This milestone is the culmination of a great collaboration with the city and university, and we’re thankful for the hard work put in by the TSB team to make this a reality,” said Stephen Bus of Up Campus.
Blume on Ivy is scheduled to deliver Fall 2027, in time for the 2027-2028 academic year.
About TSB Capital Advisors: TSB Capital Advisors is the national leader in student housing and multifamily real estate advisory services, and has offices in Phoenix, Arizona (headquarters), Paoli, Pennsylvania, and Dallas, Texas. Since its creation in 2009, TSB Capital Advisors has helped close over 500 deals and more than $70 billion in student housing and multifamily transactions.
About Up Campus Student Living: Up Campus is a vertically integrated owner, developer, and operator with experience spanning the development and operation of over 50,000 purpose-built beds across 40+ markets. With over 30 years of experience, UP focuses on creating vibrant, sustainable communities that enhance the student experience. Their "Pride of Ownership" philosophy ensures excellence throughout the development process, from site selection to management. Committed to sustainability, Up Campus Student Living integrates sustainable practices to reduce environmental impact and partners with top-tier AEC and finance firms to deliver projects that exceed financial and stakeholder expectations.