When AWRE acquired the former office building at 20 Hawley Street in downtown Binghamton, it was a vacant, 200,000 square foot structure with no clear path to productive use. Where others saw an obsolete liability, AWRE saw an opportunity — and executed a creative adaptive reuse conversion that transformed the abandoned building into one of the most successful luxury student housing projects in upstate New York.

Completed in 2012, the project delivered 200 beds of high-end student housing specifically designed to meet the expectations of Binghamton University students seeking an elevated off-campus living experience. The development was defined by a level of finish and amenity programming that was virtually unheard of in the student housing market at the time — private baths, queen-size beds, oversized rooms with individual climate control, full modern kitchens, in-unit laundry, and magnificent views of downtown Binghamton. Common amenities included a state-of-the-art fitness center, a luxury private movie screening room, and dedicated study and meeting rooms. The building also incorporated over 20,000 square feet of ground-floor retail space, activating the streetscape and contributing to the revitalization of the surrounding downtown neighborhood.

The project's success validated the demand for quality student housing in Binghamton and catalyzed broader investment in the area — today, the building has grown to over 1,200 beds, a testament to the vision AWRE brought to a property the market had written off. AWRE ultimately sold 20 Hawley Street at the peak of the student housing market, delivering exceptional returns to its investors and further demonstrating the firm's discipline in knowing not only when to develop, but when to exit. The project remains one of AWRE's most compelling examples of its ability to identify undervalued assets, execute complex conversions, and create lasting value for investors, tenants, and the communities in which it operates.