The new complex will be directly across from GSU's northwest campus entrance.Statesboro, Ga.  — The Preiss Company (TPCO) and CampusWorks will break ground in spring 2012 for a redevelopment project within walking distance of Georgia Southern University.

The development required the joint purchase of The Varsity, an existing 200-unit apartment complex on 12 acres that was built in 1986. The apartment sold via short sale for $3.25 million. The seller was Coastal Apartment Advisors. When TPCO and CampusWorks' new $27 million, Class A, 692-bed site opens for the fall semester of 2013, it will offer a clubhouse, including an indoor basketball court and resort-style swimming pool.