Harrison Street, LV Collective Break Ground on 862-Bed Student Housing Development in Blacksburg
LV Collective and Harrison Street Asset Management have announced the closing of an 862-bed student housing development in Blacksburg, Virginia, on Jan. 12.
The project, named Rambler, is located a short walk from Virginia Tech's campus and obtained financing from Kennedy Wilson. Harrison Street, an alternative global investment management firm with over $108 billion in assets under management, is partnering with LV Collective on the development.
Real Estate Development Details
The eight-story project is planned to include 247 units and 862 beds across 577,671 square feet. The unit mix is expected to consist of studio, one-, two-, three-, four- and five-bedroom layouts, including townhome units.
"Our entry into the Virginia Tech market reflects our disciplined growth in high-demand university markets and commitment to enhancing student living experiences," said Jonathan Reyes, president of student housing at LV Collective. "This development has been thoughtfully designed to activate Main Street retail and complement the neighborhood while delivering an elevated student housing property that supports academic success, wellness and connection."
Site work on Rambler began in December 2025, and the property is scheduled to deliver Fall 2028 for the 2028-2029 academic year.
Student Housing Amenities
Planned amenities include Daydreamer Café, a ground-level coffee shop; a mezzanine-level coworking space with private study rooms; a multisport simulator; an outdoor pool deck with a hot tub; and a clubroom and social lounge. The property will also include a fitness center, yoga and flex studio, and wellness facilities.
"As our portfolio grows, we're focused on delivering amenity-rich communities that we feel will stand the test of time for residents," said Justin Gronlie, Managing Director and Co-Head of Education Transactions – North America at Harrison Street Asset Management. "We're pleased to close on this project in Blacksburg and look forward to supporting the university's growth with high-quality housing near campus that serves students and the broader community."
Commercial Real Estate Financing and Partnership
The project represents LV Collective's entry into the Virginia Tech market and Harrison Street's continued investment in student housing development. The development is designed to activate Main Street retail and complement the surrounding neighborhood.
Sources:
Harrison Street: https://harrisonst.com/lv-collective-and-harrison-street-asset-management-to-develop-elevated-student-housing-project-in-blacksburg-va/