The Standard at Syracuse Will Be a 210-unit Mid-Rise
Community
ATHENS,
Ga., June 28, 2024 /PRNewswire/
-- Landmark Properties, a fully-integrated real estate firm
specializing in development, construction, investment management,
and operation of high-quality residential communities, together
with W5 Group, a leading global investor in Innovative Living
projects, has closed on its acquisition of a 2-acre site in the
University Hill neighborhood, one block from the northern border of
the Syracuse University campus in
Syracuse, NY.
The partnership has commenced the development of The Standard at
Syracuse, a 600+ bed, 210-unit
student housing community at 910 Madison St. and will preserve the
Temple Concord sanctuary, listed on the National Register of
Historic Places, as part of the project. The Standard at
Syracuse will be the first
purpose-built student housing project in Syracuse to include five-bedroom floorplans
and is expected to open for occupancy in 2026. Landmark
Construction, the in-house general contractor for Landmark
Properties, is managing construction on The Standard at
Syracuse.
"Beyond the remarkable location on the north side of the
Syracuse University campus, The
Standard at Syracuse will provide
much-needed housing for students at Syracuse
University," said Wes Rogers,
President and CEO of Landmark Properties. "Our work on the ground,
with the city of Syracuse and the
surrounding community stakeholders combined with our vertically
integrated design and construction platform, has set us on a course
to create an amenity-rich lifestyle experience for students. The
preservation of the existing sanctuary structure also adds a
distinctive historical element to the project, while maintaining
the character of the surrounding neighborhood. We are excited to
have closed our seventh investment with W5 Group."
"The Standard at Syracuse
typifies our Innovative Living investment strategy and will provide
a green, state of the art, bed-bath parity, community oriented
highly amenitized flexible living solution for students," said
Ralph Winter, founder of W5 Group.
"Syracuse University is a leading
private R-1, Power 5 university with a long history of academic,
research and sporting excellence. Micron Technology's plans to
build a $100 billion semiconductor in
the area will serve to further bolster Syracuse University. We are excited about the
Syracuse University's partnership with
Micron to support workforce development and innovation in the
semiconductor industry and the University's plans to increase
Engineering and Computer Science enrollment by 50% and the addition
of 50 new faculty members and a doubling of research expenditures
by 2028."
The Standard at Syracuse will
be steps from the Marshall Street entertainment district and the
76-acre Thornden Park with its pool, rose garden, and outdoor
amphitheater. It will include a mix of floor plans ranging from
studios to five-bedroom floorplans at a variety of price points,
appealing to a broad group of students. Every fully furnished unit
will include private baths, hardwood-style flooring throughout,
in-unit washers and dryers and plantation blinds. Apartments will
also feature gourmet kitchens appointed with quartz countertops,
designer cabinets and stainless-steel appliances. Select units will
include private balconies.
Landmark Properties plans to preserve the original Temple
Concord structure – built in the early 1900s – and incorporate it
into The Standard at Syracuse by
creating 4,750 square feet of distinctive amenity space for
residents. Current plans call for the building to be transformed
into a well-appointed gathering space to unwind, study and
socialize. The amenity package will also include a 24-hour
fitness center as well as a sauna, several study areas, and a large
outdoor hot tub. A parking deck will feature covered parking with
220 spaces for resident use.
The Standard at Syracuse will
be Landmark Properties' second student housing delivery in
New York, the first being The
Station Buffalo, proximate to the University
at Buffalo in Buffalo,
NY.
About Landmark Properties
Headquartered in Athens, Ga.,
with an office in Atlanta,
Landmark Properties is a fully integrated real estate firm,
specializing in the acquisition, development, and management of
high-quality residential communities. With $14 billion in AUM, Landmark's portfolio includes
over 115 residential communities across the country with 72,000
beds under management. Additionally, Landmark benefits from an
active development pipeline with 23 student and multifamily
projects under construction or near term start with an estimated
value of nearly $5 billion.
Landmark's mission is to be the leader in development,
construction, operations, and investment management of high-quality
residential communities, delivering unrivaled service and
experience to our residents, partners, and employees. For more
information, visit www.landmarkproperties.com.
About W5 Group
W5 Group was established in Switzerland in 2009 to invest capital on
behalf of the Winter family and today also invests on behalf of
other family offices, and like-minded investors. In the US, W5 has
offices in Miami and New York and in Europe, in Zug and Frankfurt. Ralph Winter is a successful
global entrepreneur and real estate investor who was an early
investor in European student housing, multifamily, micro-apartments
and shared living. He amassed a portfolio of 40,000+ student
housing units and 100,000+ multifamily units, generating over €30
billion in investment transaction volume. W5 invests in Innovative
Living projects in Europe and the
US across multifamily, student housing, Miro living, build-for-rent
(single family rentals) and condominiums. W5's investments include
ground up developments, value-add, mezzanine debt, preferred equity
as well as opportunistic real estate within its target sectors.
For more information, visit www.w5-group.com
Media Contacts:
Great Ink Communications – (212)
741-2977
Lindsay Church –
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Sara Williams –
379781@email4pr.com
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SOURCE Landmark Properties