Raleigh, N.C. — Construction is underway on Hub Raleigh, a 2,195-bed student housing development located at 111 Cox Ave. near the North Carolina State University campus in Raleigh. The nearly 1 million-square-foot project is being developed by a joint venture between Core Spaces and TPG Real Estate and is scheduled for completion ahead of the 2026-2027 academic year.
The 12-story building will offer a mix of studio through four-bedroom fully furnished units. The property will feature over 40,000 square feet of indoor and outdoor amenity space, including a resort-style swimming pool and hot tub, fitness center, fire pit, outdoor kitchen and grilling area, clubhouse and co-working space. The community will also include a 558-stall parking garage.
TSB Capital Advisors acted as financial advisor to Core Spaces and TPG Real Estate on the joint venture and construction financing, which was provided by Pacific Life Insurance Co. PC Treehouse Construction, a partnership between Power Construction and Core Spaces, is serving as general contractor for the project. Architecture is being led by Antunovich Associates and Harken will provide interior design services in collaboration with Core’s in-house team.
“Hub Raleigh represents one of Core’s largest developments to date and one of the largest student housing projects in recent years,” says Chief Investment Officer of Student Housing Brendan Miller. “We’re thrilled to kick-off our partnership with TPG and we’re proud to join the great NC State community in a big way by delivering not only a project of this scale, but a project that we’re confident will add value to the market for years to come.”