P
eakMade Real Estate, Blue Vista Capital Management, and W5 Group have broken ground on Theory Ithaca, a new apartment development in downtown Ithaca, NY, near Cornell University. The project aims to serve graduate students, university affiliates, and the local community. This marks the expansion of Peak and Blue Vista's Theory-branded portfolio in major university markets.

    Theory Ithaca will feature 371 units, 518 beds, and 239 parking spaces upon completion. The development is scheduled to open for the 2027 academic year and boasts a market-leading amenity package, including rooftop terraces, modern study lounges, and direct access to nature along Six Mile Creek.

    "The Cornell University market has an undersupply of student apartments, particularly for graduate students," said Jeff Githens, President of Development at PeakMade Real Estate. "Theory Ithaca will meet this demand with a high-quality project in a prime location."

    "We're excited to begin construction on Theory Ithaca and deliver a new housing option to downtown Ithaca," added Jason Schwartz, Managing Principal at Blue Vista Capital Management.

    Theory Ithaca is part of W5 Group's Innovative Living strategy, which focuses on delivering community-oriented, amenitized living experiences in top university markets. The project will set a new standard for residential innovation in the Ivy League, catering to Cornell's rapidly growing student population.