Athens, Ga. — Landmark Properties has unveiled plans to develop three new student housing projects totaling 2,544 beds across three states. The developments include The Standard at Philadelphia adjacent to the University of Pennsylvania and Drexel University; The Standard at Bloomington near Indiana University; and The Standard at Columbia near the University of South Carolina.
All of the properties are slated to open in fall 2023. With these project starts, Landmark will have more than $3.5 billion in properties under construction.
The Standard at Philadelphia will feature 280 units with 802 beds. Floor plans will range from studios to six-bedrooms. Amenities will include a fitness center, pool, hot tub, sauna, study lounge, clubhouse, gaming lounge, grill station and computer labs. The complex will also feature more than 3,000 square feet of retail space on the ground floor.
The Standard at Bloomington will include 1,064 beds across 439 units. Amenities will include a pool, spa, exterior jumbotron, fitness center, sports simulator, indoor basketball court, pickleball court, gaming lounge and grilling stations.
The Standard at Columbia will consist of 678 beds across 247 units. Floor plans will range from studios to five-bedrooms. Amenities will include a clubhouse, pool, fitness center, study lounge and sports simulator. This project is being developed in partnership with Chicago-based CRG.
Athens, Georgia-based Landmark has operated in the Columbia market for nearly 15 years. The developer forecasts favorable supply and demand fundamentals in the Philadelphia and Bloomington markets.
“Emerging from the pandemic, we continue to see strong demand for off-campus, purpose-built student housing as students seek high-quality housing options and a unique college living experience,” says Wes Rogers, president and CEO of Landmark. “Enrollment in our markets grew in aggregate during COVID while supply became further constrained. This is evidenced by record preleasing numbers for the fall.”
Since the beginning of 2020, Landmark has unveiled plans for 20 new student housing developments representing more than 14,000 beds and $3.8 billion in value. The developer and owner-operator maintains more than $7.5 billion of assets under management.
— Kristin Hiller