Development

Florida-Poly-Development

Lakeland, Fla. — Construction is underway on a 430-bed residence hall project located at Florida Polytechnic University in Lakeland. The community is being developed through a public-private partnership with Capstone Development Partners. A topping out ceremony for the project was held on Feb. 13. The 137,000-square-foot development will offer one-, two- and four-bedroom units, alongside shared amenities including lounge and study space, a large multi-purpose room, offices and an interior courtyard. The five-story project is expected for delivery in fall 2024. The $42 million development is being financed through tax-exempt …

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USC-Rendering-Landmark-Properties

Los Angeles — Landmark Properties has broken ground on The Standard at Los Angeles, a 1,284-bed student housing community located a few blocks south of the University of Southern California (USC) campus. The mid-rise apartment building will include the construction of 1,236 beds across 429 units, as well as the renovation of five existing townhomes that will comprise 48 beds. Landmark Construction, the in-house general contractor for Landmark Properties, is managing construction. The property is slated to open in August 2026. Situated at the east side of the 160-acre Exposition Park, …

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Annex-Memphis

In a way, the dynamics of public-private partnerships (P3s) are the same as they’ve always been.  “The reasons why universities elect to go the P3 route haven’t changed much,” says Michael Baird, managing director of municipal finance for RBC Capital Markets. “For many, the decision is made based on speed to market. This happens when other alternatives can take years — resulting in an opportunity cost of not being able to provide housing to students that need housing now, in addition to increased development expenses as construction costs continue to increase year …

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Academe-198_San-Francisco_Exterior

San Francisco — Greystar has delivered Academe at 198, a $282 million student housing property in downtown San Francisco. Located at 198 McAllister St. in the city’s Civic Center district, the mixed-use property is Phase I of the Academic Village expansion at UC Law San Francisco, formerly known as UC Hastings College of the Law. Academe at 198 spans 14 stories and features 656 units (667 beds) for students at UC Law SF, as well as faculty and staff. The property website also says students from nearby University of California San …

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Tempe, Ariz. — An undisclosed buyer has acquired Sleep Inn, a 72-room hotel near the Arizona State University campus in Tempe, with plans to convert the property into student housing. The hotel will be transformed into a seven-story community offering 479 beds upon completion. Further details on the project were not disclosed. NewGen Advisory worked on the transaction. 

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Mediplex-Albright

Reading, Pa. —MPG Impact Development, an affiliate of Mediplex Property Group, has completed a 365-bed student housing development located adjacent to the Albright College campus in Reading. The five-story community spans 135,000 square feet and offers suite-style units in single- and double-occupancy configurations. The property is master-leased to Albright College and offers lounge areas on each floor. 

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Annex-Memphis

Memphis, Tenn. — A public-private partnership between The Annex Group and the University of Memphis has announced plans to develop a 540-bed residence hall on the university’s campus in Tennessee. The community will offer a mix of studio, two- and four-bedroom units alongside 300 parking spaces. The property will target occupation by student athletes. Shared amenities will include study space, social gathering areas, outdoor living space and grab-and-go dining options. The community will be part of the university’s Park Avenue Campus development, which will include Tiger Park, an academic and …

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Standard-at-Boulder-Boulder-CO

Boulder, Colo. — Landmark Properties has acquired a 15-acre site at 1345 28th St. near the University of Colorado Boulder in Boulder. The firm plans to construct The Standard at Boulder, a 936-bed student housing community, on the site. The project caps off approximately $700 million in year-end transactions for Landmark in 2023. The 447,000-square-foot building will include 303 student apartments. Landmark expects to begin abatement and demolition of the vacant building on the site, former home to the Harvest House Hotel, early this year. Landmark Construction, the construction arm …

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Miss-State-Res-Hall

Starkville, Miss. — Mississippi State University has announced plans for an $80 million residence hall development on its campus in Starkville. The five-story community will span 155,000 square feet and offer 400 beds. The development is also set to include a dining hall, offices, a storm shelter and shared amenity spaces. The development team for the project includes Roy Anderson Corp. and Wier Boerner Allin Architecture. Construction is expected to begin in February with completion scheduled for spring 2025. 

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Harrison-Street-Ontario

Vancouver and Victoria, British Columbia — Harrison Street has acquired two student housing communities in Vancouver and Victoria, British Columbia. Acquisitions include a 283-bed development targeting students attending Simon Fraser University (SFU) and young professionals in Vancouver; and The Shelley, a boutique community located near the University of Victoria. The community near SFU is being developed through a partnership with Rize and is expected for completion in 2026. The property will offer three- and four-bedroom units. 

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