Gameday Centers Building Condos Near College Football Stadiums

With the real estate market in the middle of its worst “crisis since the Great Depression,” Gameday Centers has stayed “red hot during the meltdown” by developing a niche market of building condos near college football stadiums, according to CNBC’s Darren Rovell. Gameday Centers President Brad Pager said, “We look at ... a stadium in a college campus like many people look at beachfront property. There’s just not that much land and many opportunities, so it’s a very, very special piece of property.” Rovell said the company targets "rich alumni who spend tens of thousands of dollars on luxury suite seats inside the stadiums to purchase an apartment just a short walk away." Gameday Centers has five completed projects, including one at the Univ. of Georgia, and is “currently building five others.” Rovell noted the UGA Gameday Center "sold out all 133 condos (and) grossed more than $27(M), and that’s before the doors even opened” (“Squawk Box,” CNBC, 11/8).