Inch & Co. Construction, in partnership with Cascade Capital, announced a new townhome development project, University Park Townes, and planned to break ground this upcoming September in State College.
Just eight minutes north of Beaver Stadium, High Tech Road will highlight this $47 million project just steps away from the State College Regional Airport.
For a short-term or long-term stay in Happy Valley, this property has you covered.
Brandy Meyer said she believes the development approach is a timely response to the concurrent changes in the housing market.
“At Inch & Co., we view build-to-rent as a strategic answer to shifting housing trends and renter preferences,” Meyer, Inch & Co.’s Head of Capital Markets, said. “It’s a model designed to deliver both stable long-term leases and premium short-term income, fueled by Penn State and local employment demand.”
University Park Townes is a 15.7 acre community that will feature 17 buildings with 146 three-story townhomes.
The townhomes will offer 1,478 square feet across three bedrooms, and 3.5 bathrooms with rent averaging around $2,300 per month.
In addition, 40 to 73 short-term rental units with two bedrooms and 1.5 baths covering 830 square feet will have open doors to visiting alumni and weekend football fans.
Former Penn State quarterback Beau Pribula expressed his connection with the founders of Inch & Co.
“I love Johnny and Jeff Inch, (and) they’ve been in my corner since high school,” Beau said. “I’d always ask them questions about their business and naturally had an interest in real estate.”
What began as two separate landscaping businesses combined in 2012, when brothers Johnny and Jeff Inch merged their operations to launch Inch & Co., a vertically integrated real estate firm based in York, Pennsylvania.
With their early support for Penn State football’s NIL program and ongoing collaboration with the university’s alumni, the development is as much about giving back as it is about building forward for the Inch brothers.
Reflecting on that point, Beau added his thoughts on the construction as an investor.
“I’m in a position now where investing is a must,” Beau said. “I’m an LP (limited partner) in a couple of deals already with Inch, and a townhome project in State College seems to make a lot of sense.”
Joining him on the investment side is fellow Penn State alum and former tight end Adam Breneman, who has also partnered with Inch & Co. on other projects.
The development’s capital formation is being managed by Cascade Capital and Breneman Media, with property management led by Inch & Co. Property Management.
While the company has earned its reputation developing multi-family properties in York and surrounding counties, Inch & Co. recently announced plans to expand into emerging markets in North Carolina and Ohio.
However, State College remains a sentimental favorite.
Cade Pribula, Beau’s brother and investor of University Park Townes, expressed his expectations for the soon-to-begin development.
“Everyone at Cascade Capital and Inch & Co. is excited about the University Park Townes development in State College,” Cade said. “A lot of employees, stakeholders and partners have PSU ties, and will use this as an excuse to get up to State College a couple more times a year.”
For fans of Penn State football, real estate or both, University Park Townes represents an opportunity to be part of something that blends investing with true Nittany pride.
For Johnny and Jeff Inch, it’s another chance to build a community in their favorite backyard.
The development is now open to accredited investors with a minimum investment of $100,000. The project is targeting a 20% internal rate of return and a 2.5x equity multiple.
Those interested in investing may contact bmeyer@inchandco.com for more information.
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