Joint Venture Breaks Ground on 518-Bed Community Near Cornell University 

Ithaca, N.Y. — A joint venture between PeakMade Real Estate, Blue Vista Capital Management and W5 Group has broken ground on Theory Ithaca, a 518-bed community located near the Cornell University campus in downtown Ithaca. The project will serve graduate students, as well as university affiliates and the greater Ithaca community. Construction financing for the development, which is scheduled for completion ahead of the 2027-2028 academic year, was provided by Kennedy Wilson. The community will offer 371 units in studio through three-bedroom configurations alongside 239 parking spaces. Shared amenities will include rooftop terraces, modern study lounges, a luxury fitness center and direct access to nature along Six Mile Creek. “The Cornell University market is one of the most undersupplied student apartment markets in the country — especially for graduate students,” says Jeff Githens, president of development with PeakMade. “Theory Ithaca plans to serve this unmet demand with an exceptional project in an irreplaceable location in between Cornell’s campus and downtown Ithaca.”