ATHENS, GA—Students in this Georgia city will have a new housing option when they begin the fall 2014 semester. Landmark Properties, a locally based development firm, and Harrison Street Real Estate Capital have kicked off work on what’s said to be the first core, purpose-built student housing property in the city’s Downtown.
The community, dubbed the Standard at Athens, is located at Thomas and Strong streets in the former Athens Hardware building. “With our location, product and amenities, we should compete very well in the Athens market,” says Landmark president and CEO Wes Rogers. “This is a site we’ve had our eyes on for a while and we’re excited to be building in our hometown again.”
In the works since last January, the $30-million project will consist of 610 bedrooms and 24,788 square feet of ground-floor retail space in an eight-story building. Features include a rooftop infinity edge swimming pool complete with cabanas, a 10,900-square-foot clubhouse with strength training and cardio fitness centers, gaming lounge, sauna, study rooms with coffee bar, golf simulator, tanning beds and a courtyard.
The units, which have 11 different floor plans and range from one to five bedrooms, will be fully furnished and have stainless steel appliances and granite countertops, as well as a full or partial balcony. Most bedrooms will have a bathroom and a walk-in closet, and all students will have a parking spot in an accompanying eight-story parking deck.
The Standard will also offer a select number of premium units, which will be “significantly larder” than traditional units. These will include an expanded living room living room with a pool table and a full-size balcony overlooking Downtown.
The Standard represents Harrison Street’s 12th investment with Landmark Properties and the first non-cottage project. The firm, says SVP Brian Thompson, “is very proud of what our venture has accomplished over the past couple years. We look forward to continuing to grow the platform with the Landmark team.”
Landmark, meanwhile, currently has over 2,600 beds under construction in Arizona, Pennsylvania, Mississippi and Georgia. The Standard is the first of several urban infill projects the company is pursuing to complement its “Retreat” brand of student cottage communities.
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