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Derek Jeter is taking his game back to college.
The baseball Hall of Famer is working with private hospitality company Alum to build upscale condo-hotels and members-only clubs in college towns, Alum announced Tuesday.
Jeter is financially backing the company, which was founded in 2021 by Paul Brenneke and David Vialli, and will serve as a board adviser.
Private clubhouses, the prime gathering place, will anchor each Alum development. Memberships will be available for purchase and will automatically be included in the deal for condo residents.
First up on Alum’s development list is Tuscaloosa, home to the University of Alabama. A 116K SF mixed-use project is underway with 68 condo-hotel units, meeting and event spaces, a rooftop lounge and a pool.
Alum is looking to grow to between 30 and 40 properties across the country. Future projects include a site at the University of Oregon, which has already been purchased. Negotiations for developments in Kentucky, Michigan and Oklahoma are underway, as well as additional locations near Ohio State and Notre Dame.
Legends, an experience-focused company, is partnering with Alum to operate the clubs.
Private clubs and experience-based developments have been growing in popularity across major cities such as New York City, Los Angeles and Miami. The concept has already caught the eye of massive private funds this year.
Convene Hospitality Group raised $220M in March from institutional investors, including TPG and Ares, to develop new private clubs across the U.S. Convene, which has 38 locations, wants to grow NeueHouse, a members-only social club it acquired out of Chapter 7 bankruptcy.
Private club brand Soho House was taken private in 2025 in a $2.7B deal led by Apollo and MCR Hotels. When MCR failed to cough up the $200M closing commitment it initially promised, Morse Ventures, an entity owned by MCR’s CEO, swooped in with a $50M equity commitment in January to put the deal back on the table.
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