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Derek Jeter-backed Alum to build condo-hotels and private clubs
The first development is a 116,000-square-foot mixed-use project in Tuscaloosa with 68 condo-hotel units, plus meeting and event space, a rooftop lounge, and a pool.
Derek Jeter is partnering with private hospitality company Alum to develop upscale condo-hotels and members-only clubs in college towns, Alum announced Tuesday. Jeter will financially back the company and serve as a board adviser, joining founders Paul Brenneke and David Vialli.
Each Alum development will center on a private clubhouse, with memberships available for purchase and automatically included for condo residents. Alum said it is targeting growth to between 30 and 40 properties across the country.
The company’s first project is underway in Tuscaloosa, Alabama, home to the University of Alabama. Bisnow reports the development is a 116K SF mixed-use project featuring 68 condo-hotel units, meeting and event spaces, a rooftop lounge, and a pool.
Alum is also planning additional locations, including a site at the University of Oregon that has already been purchased. Negotiations are underway for developments in Kentucky, Michigan, and Oklahoma, with more discussions near Ohio State and Notre Dame, and Legends will partner with Alum to operate the clubs.