:
US: Real estate firm Landmark Properties, in partnership with Manulife Investment Management, have acquired a 3.29-acre site in Auburn, Alabama, with plans to develop an 825-bed student housing community.
Located at 141 Wright Street, The Mark Auburn will feature 329 units ranging from studios to five-bedroom apartments.
The mid-rise building contains 31,000 square feet of amenity space, including a clubhouse, rooftop pool, Jumbotron, grilling areas and fire pits, a gym, sports simulator, and a study lounge with a cafe and computer labs.
It marks the fifth project in a build-to-core joint venture executed with the Manulife Infrastructure Fund pool. Peninsula Investments also partnered on the project.
Landmark Construction will serve as the project’s general contractor, with BKV Group as architect. Delivery is anticipated for the autumn 2028 academic year.
“Landmark is happy to announce its second project in Auburn, a high-growth market with increasing demand for off-campus housing,” said Jason Doornbos, chief development officer at Landmark Properties. “Our team was advantageous in negotiating a four-parcel site that falls across two zoning areas, which will allow us to achieve meaningful density at The Mark Auburn and stand out among similar properties in the area.”
Jonathan Kimball, associate director at Manulife IM, added: “We are excited to expand our partnership with Landmark through the acquisition of this parcel which is in a fortress location within the Auburn market. The Mark Auburn will benefit from strong market fundamentals and Landmark’s experience operating in the area.”
Highlights:
- Landmark Properties and Manulife Investment Management have acquired a 3.29-acre site in Auburn, Alabama, to develop an 825-bed purpose-built student accommodation (PBSA) project called The Mark Auburn.
- The project marks the fifth build-to-core joint venture between Landmark and Manulife, with Peninsula Investments also partnering on the scheme.
- The development will deliver 329 student housing units, ranging from studios to five-bedroom apartments, located at 141 Wright Street near Auburn University.
- The Mark Auburn will include 31,000 square feet of amenity space, featuring a clubhouse, rooftop pool, fitness centre, sports simulator, study lounge with café, and social outdoor areas.
- Construction will be led by Landmark Construction with BKV Group as architect, and delivery is targeted for the autumn 2028 academic year.
