Athens, Ga. — Landmark Properties has completed the development of 10 student housing properties valued at $2 billion ahead of the fall 2023 semester. The portfolio is the largest to be delivered off-campus in a single year, according to Landmark, and accounts for one-fourth of all student housing deliveries this fall. The portfolio, which offers a total of 8,195 beds, includes:
The Standard at College Park, a 951-bed community located two blocks from the University of Maryland campus in College Park. The property offers units in studio through five-bedroom configurations, alongside shared amenities including a fitness center, sauna, computer lab, study lounge and ground floor retail space. Landmark Construction served as general contractor for the project.
The Standard at Columbia, a 678-bed project developed through a joint venture wth CRG near the University of South Carolina campus in downtown Columbia. The community offers studio through five-bedroom units. Shared amenities include a clubhouse, pool deck, fitness center, spa, study lounge, cafe and a sports simulator. Clayco served as general contractor for the project.
The Standard at Bloomington, a 1,064-bed community located near the Indiana University campus in Bloomington. Shared amenities at the property include a swimming pool and spa, an exterior jumbotron, sauna, fitness center, sports simulator, gaming lounge, indoor basketball court, pickle ball courts and grilling stations. Landmark Construction served as general contractor for the project.
Phase I of The Standard at Philadelphia, an 802-bed student housing project located at 120 South 30th St. in Philadelphia. The development is located adjacent to the University of Pennsylvania and Drexel University campuses. The community offers units in studio through six bedroom configurations, alongside shared amenities including a fitness center, swimming pool, hot tub, sauna, study lounge, grilling station, gaming lounge and computer labs. The property also features 3,000 square feet of retail space. Gilbane Building Co. was the general contractor for the project.
The Standard at Seattle, a 1,545-bed student housing community located within walking distance of the University of Washington in Seattle. The development offers studio through six-bedroom units across 446,000 square feet of residential space. The community also features 8,000 square feet of ground floor retail and shared amenities including two rooftop swimming pools and hot tubs, a coffee shop-inspired study area, fitness center, rock climbing wall, sauna, computer lab and a gaming lounge. Landmark Construction served as general contractor for the project.
The Retreat at Fayetteville, a 585-bed cottage-style development serving students attending the University of Arkansas in Fayetteville. The community offers units in two-, three-, four- and five-bedroom configurations. Shared amenities include a fire pit, grilling area, jumbotron ,swimming pool, hot tub, putting green and areas for bocce ball. The project also features 1,000 square feet of retail space along Razorback Road. Landmark Construction served as general contractor for the project.
The Legacy at Centennial, a 32-story community located steps from Centennial Olympic Park in Atlanta. The 835-bed high-rise served students attending Georgia State University and the Atlanta University Center. The property offers 265 units with shared amenities including a resort-style swimming pool, fitness center and group and private study spaces. The community also features 5,700 square feet of ground-floor retail space. Landmark Construction served as the general contractor for the project.
The Mark Austin, a 975-bed community located near the University of Texas at Austin. The community is Landmark’s first to feature a bowling alley. Shared amenities include a rooftop swimming pool; 24-hour, two-story fitness center; and a variety of study facilities for group and private work. Landmark Construction served as general contractor for the development.
The Metropolitan Gainesville, a 464-bed mid-rise community located adjacent to the University of Florida campus in Gainesville. The property offers one-, two-, three-, four- and five-bedroom units. Shared amenities include a resort-style swimming pool, jumbotron, two-story fitness center, grilling areas, a fire pit and club room. Landmark Construction served as general contractor for the project.
“Student housing continues to outperform other real estate asset classes, providing stable cash flow during the Great Financial Crisis, COVID, and now, in the face of historic rate increases and challenged capital markets,” says Wes Rogers, president and CEO of the Athens, Georgia-based company.
“From an operational standpoint, student housing has never performed better,” he continues. “We’re experiencing record rent growth and occupancy. The challenging capital markets and elevated construction costs are making development deals more difficult to pencil, but with steady enrollment growth at the top universities, the supply and demand fundamentals should continue to be very strong for the foreseeable future. I’m proud of the team’s successful execution of this record number of deliveries.”