STATE COLLEGE/CENTRE COUNTY, Pa — With the recent purchase of Park Hill Apartments in State College, Core Spaces now owns six downtown apartment buildings. Core Spaces has now shelled out over $100 million dollars on State College apartment buildings, and they also have plans to build a seventh.
Since late 2019, Chicago-based group Core Spaces LLC has been busy in Centre County: on top of Park Hill, they also purchased Alexander Court, Beaver Hill, Cedarbrook, Garner Court and The Diplomat, according to the Borough.
The Borough's Communications Assistant to the Borough Manager, Doug Shontz, says that Core Spaces has plans to renovate those buildings in the near future for more space and newer looks as well.
“These types of developments, and we've seen them over the past few years, are creating additional beds, Core Spaces is also rehabbing a lot of those to, you know, modernize them and make them more appealing to the community.”
However, they are not done in Downtown State College, as Shontz confirmed they have plans to build a twelve-story complex that will have commercial space on the corner of College Avenue and Hetzel street.
“It’s always nice to see brand new development, increased commercial spaces, and especially as we hopefully return to normal post this pandemic," Shontz said. "Our community continues to grow and foster a vibrancy but also, you know, hopefully we’re able to still capture that tradition and the essence of what people love about the community as well.”
Shontz added that he is not sure when construction on the high-rise will begin, and Core Spaces has not yet responded to inquiry.
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