US real-estate company Landmark Properties, in collaboration with Canyon Partners Real Estate and Peninsula Investments, has closed on the acquisition of a 4.31-acre site in Tampa, Florida.
The site, located at 2700 University Square Drive, is set to become the home of The Mark Tampa, an 807-bed student housing community, with construction set to commence immediately.
Kennedy Wilson has stepped in to provide the construction loan for the project, with TSB Capital Advisors facilitating the financing arrangements.
The project's completion is targeted for the 2027-28 academic year, with Landmark Construction taking the helm as the general contractor and Dwell Design Studios contributing its expertise as the architect.
The development will span over 270,500ft² of residential space, offering a diverse range of 215 units, from studios to five-bedroom apartments.
Each unit will boast modern amenities, including quartz countertops, stainless steel appliances, in-unit laundry, hardwood-style laminate flooring, spacious closets, and blinds, with select units featuring balconies, the company said.
The Mark Tampa will also feature a 25,000ft² amenity package. Residents will have access to a rooftop pool deck, grilling area, clubhouse, sports simulator, sauna, and an indoor/outdoor fitness centre, among other features.
The community will also offer a computer lab and study areas on each floor to support students' academic pursuits.
Additionally, the property will include 988ft² of ground-floor retail space and on-site parking for approximately 647 vehicles.
This new development marks Landmark Properties' fourth venture in the Tampa market, adding to its portfolio of 1,930 beds across three existing properties.
For Canyon, The Mark Tampa is its eighth student housing investment in the past five years.
Meanwhile, Peninsula marks its first foray into the Tampa market with this project, which also represents its 47th student housing investment overall.
Landmark Properties chief development officer Jason Doornbos said: "Landmark is excited to announce the development of The Mark Tampa in partnership with Canyon and Peninsula.
"The Mark's unparalleled amenities and prime location just south-west of the USF [University of South Florida] campus and near a multitude of dining and entertainment options will make the community an attractive housing option for USF students."
