Real Estate Development and Finance
Fox entered real estate development in 2005 in Fiji, where he formed a partnership with transplanted Australian and now Fiji citizen Phil Gerlach, co-founder of Beyond (Film and Television). In 2013 he met Patrick Rhodes and Tom Fore of Sora Development and Tim Elliott of Sidewalk Development, all of whom were leading proponents of mixed-use developments adjacent to universities. The three had worked together on the Rowan Boulevard Project in Glassboro, New Jersey and invited Fox to work with them on the marketing and financing of Saint Peter’s Tower in Jersey City, New Jersey. Fox then met and formed a partnership with Rich Jennings of Realty Capital to raise the $56 million of equity and $190 million of debt necessary for the project. A deal for the equity portion is expected to be announced shortly.
Saint Peter’s Tower is slated to be complete in mid-2018 and will have approximately 450 apartments, 350 dorm beds, 90,000 square feet of retail, and 500 underground parking spaces. Residents will have access to specific campus facilities and events, as well as opportunities to mentor students and members of the community.