- Location: Lehigh Valley, PA
- Units: 40
- Portfolio Size: $9,000,000
- Projected IRR: 12%
- Website: www.southlightapartments.com
Southlight is a student and faculty geared portfolio located in the heart of South Bethlehem, PA near Lehigh University. The portfolio includes a ten unit mixed-use development, six unit mixed-use renovation, twenty unit mixed-use development, and a few other properties.
South Bethlehem, also known as Southside, is a desirable emerging market for real estate opportunities. Over the past 5 years, it has seen gentrification and over $500M in private capital re-invested into the community, specifically on 4th Street and 3rd Street. The portfolios proximity to Lehigh and being within an opportunity zone provides a competitive advantage over other markets. Lehigh plans to continue to grow and expand its presence within the community. Lehigh has begun its “Path to Prominence” which includes investing $1B+ back into the university’s expansion. Lehigh is increasing the student body 20% by adding 1,500 students and 100 faculty members over the next decade. Each property within the portfolio is strategically selected to be in the best locations for both students and faculty.