Nation’s top student housing developer increases portfolio under construction by $2.5 billion since August 2020, bringing total to $3.5 billion under construction
ATHENS, Georgia (July 14, 2021) — Landmark Properties, the nation’s top developer of student housing, announced plans today for new student housing projects in Philadelphia, Bloomington, Ind. and Columbia,
S.C., respectively.
The newly announced developments are 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. These three projects will add 2,544 new beds to Landmark’s portfolio. All projects anticipate welcoming their first residents in the fall of 2023.
“With favorable supply and demand fundamentals, Philadelphia and Bloomington are markets we’ve been trying to enter for several years. We’ve been operating in Columbia for nearly 15 years and are excited to build the premier asset in the market with our partner, CRG,” said Landmark Properties President and CEO Wes Rogers. “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.
Enrollment in our markets grew, in aggregate, during COVID while supply became further constrained. This is evidenced by record preleasing numbers for the Fall.
“We’re as bullish on the student housing sector as we’ve ever been while we continue to maintain our disciplined investment focus.”
Details of Landmark’s Newest Projects:
- The Standard at Philadelphia — University of Pennsylvania and Drexel University: A 280-unit, 802-bed purpose-built community, The Standard at Philadelphia is adjacent to both university campuses at 120 South 30th St. Floor plans range from studio to six bedrooms, featuring gourmet kitchens, quartz countertops, stainless steel appliances, hardwood style laminate floors and large closets. Community amenities include a fitness center, an elevated pool and hot tub deck, sauna, computer labs, a study lounge, a clubhouse, a grill station and gaming lounge. The complex will also have more than 3,000 square feet of retail space on the ground level.
- The Standard at Bloomington — Indiana University: With 1,064 beds in 439 units, The Standard at Bloomington is just a tenth of a mile from campus and nearly equidistant from the academic core of the University and Memorial Stadium. Units will have private baths, nine-foot ceilings, quartz countertops and stainless-steel appliances with flat screen TVs included. Planned community amenities will include a resort style swimming pool and spa with an exterior jumbotron, sauna, fitness center, sports simulator, an indoor basketball court, a pickleball court, a gaming lounge and multiple grilling stations
and fire pits. - The Standard at Columbia — University of South Carolina (USC): A purpose-built apartment community with 247 units and 678 beds at 1401 Assembly St., The Standard at Columbia will be in downtown Columbia and just a few blocks from the USC campus. The complex will feature studio to 5-bedroom floorplans, and community amenities will include private bathrooms, stainless steel appliances, a clubhouse, an elevated pool deck, a fitness center, a study lounge and a sports simulator. The Standard at Columbia will be developed in partnership with Chicago-based CRG.
These two projects will add 2,544 new beds to Landmark’s portfolio. Since the beginning of 2020, Landmark has announced plans for 20 new student housing developments, representing more than 14,000 beds and $3.8 billion. Other Landmark projects currently under development include The Retreat on Milledge near the
University of Georgia (2021), The Retreat at Orlando near the University of Central Florida (2021), The Retreat at Kennesaw near Kennesaw State University (2021), The Standard at Ann Arbor near the University of Michigan (2022), The Mark (Phase II) near the University of Georgia (2022), Legacy at The Standard near University of Florida (2022), The Standard at College Park near University of Maryland (2023) and The Standard at Seattle near the University of Washington (2023).
About Landmark Properties
Ranked as the nation’s most active student housing developer and top student housing contractor, Landmark Properties is a vertically integrated developer and owner-operator with over $7.5 billion of assets under management. Landmark’s current portfolio includes more than 75 student housing properties across the country and over 50,000 beds, including over $3.5 billion in assets currently under construction. For additional information, visit www.landmarkproperties.com.
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Brian Brodrick
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