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
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SOURCE Landmark Properties
