Derek Jeter’s latest business move is aimed squarely at college football’s deep-pocketed crowd.
The former Yankees star has put his money into ALUM, the company developing a high-end hotel and residence project in Tuscaloosa, Alabama, where some buyers will pay more than $1 million for a place tied to Alabama football weekends. Work is already underway, and the opening is targeted for July 2028.
ALUM is pitching the project as more than a place to sleep. The company says it is “a place where football is celebrated, and college tradition is reawakened. Designed specifically for University of Alabama fans, alumni, and parents, this high-end residency, hotel, and private members club offers unforgettable game day entertainment.”
The setup is built for fans who want to own a piece of the experience. Buyers can use their residence when they come to town for games, then rent it out when they’re away. The building will include 68 residences, along with a swimming pool, restaurant and private club.
The price tags are steep even by luxury standards. A one-bedroom unit is listed at $819,900, while a two-bedroom option is priced at $1,689,900. The smallest residence is 668 square feet.
That kind of pricing stands out in Tuscaloosa. According to Redfin, the median home in the city sold for around $300,000 in September. At ALUM’s entry price, a buyer could purchase two homes in Tuscaloosa and still have more than $200,000 left over, based on that median sale price.
Former Alabama quarterback Greg McElroy is part of the project, too. He has invested in the company, bought one of the residences and will also have a seat on the board.
“Alum isn’t just a place to stay, it’s a place where my family can make memories, where my kids can grow up loving Alabama football like I do, explained McElroy.
McElroy played quarterback for Alabama when Nick Saban won his first national championship there. He now covers college football for ESPN, and his involvement gives the project another recognizable Alabama connection.
Jeter joined ALUM in August as an investor, board advisor and brand ambassador. The company is also looking beyond Tuscaloosa, with plans to bring the concept to college towns near Oklahoma, Michigan, Oregon and Notre Dame.
Michigan would carry a personal angle for Jeter. He grew up in Kalamazoo, about 100 miles from Ann Arbor, and briefly attended the University of Michigan.
For now, though, Tuscaloosa is the first test. The property is still more than two years from opening, and ALUM is betting that enough fans will want a luxury base for football weekends to make the model work.
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