Landmark Properties Partners with Manulife Investment Management
In an exciting development for the student housing market, Landmark Properties, a leading real estate firm, has announced a collaboration with Manulife Investment Management to construct The Metropolitan on South U. This new housing community will offer a total of 259 units adjacent to the University of Michigan, catering to the growing demand for high-quality student accommodation.
The Metropolitan: A Vision for Student Living
The Metropolitan on South U aims to provide future residents with modern and comfortable living spaces. With more than 950 beds, this community is designed to enhance the quality of life for students, providing luxurious living while being conveniently located near campus. The project is part of a larger build-to-core joint venture that has already seen five successful projects with the Manulife Infrastructure Fund pool.
Current Construction Plans
With construction expected to start imminently, Landmark Properties has appointed Landmark Construction as the general contractor. Myefski Architects will oversee the design of this ambitious project. The expertise of these teams is anticipated to reflect in the quality and functionality of the new buildings.
Campus Amenities and Features
The Metropolitan will not only focus on residential spaces but also emphasize community amenities. Plans include the creation of a clubhouse, a modern fitness center, a resort-style pool, and a rooftop lounge, accessible to all residents. Moreover, the development will feature approximately 5,000 square feet of retail space on the ground floor, creating an engaging environment for both residents and visitors.
Designer Touches and Modern Conveniences
Inside residences, students can look forward to premium features such as quartz countertops, hardwood-style laminate floors, and stainless steel appliances. Every unit will come fully furnished, equipped with in-unit laundry facilities, as well as pre-wired for internet and cable access, ensuring a hassle-free living experience.
Expert Perspectives on the Development
Jason Doornbos, Chief Development Officer of Landmark Properties, expressed enthusiasm about the project, citing the steady enrollment growth at the University of Michigan. He believes that The Metropolitan will add vibrancy to the surrounding university ecosystem.
Jonathan Kimball from Manulife IM shared his excitement, stating that they are pleased to expand their partnership with Landmark, further strengthening their investment in the local community, evidenced by the prime location of The Metropolitan.
Community Benefits
This project comes at a crucial time as the need for quality housing grows within the Ann Arbor area. The proximity of The Metropolitan to the University of Michigan's Ross School of Business underscores its strategic setting for students pursuing higher education. The site will also be surrounded by various shopping, dining, and entertainment options, making it an attractive destination for student living.
About the Collaborating Companies
Landmark Properties operates from its headquarters in Athens, specializing in all aspects of real estate from acquisition to management, with a significant portfolio across the United States. The company oversees approximately $15 billion in assets, which includes over 115 residential communities designed for students.
Manulife Investment Management plays an important role in this project, providing exceptional investment and financial services globally, helping both individuals and institutions achieve their financial goals. Their commitment to sustainability and responsible investment aligns seamlessly with the values of Landmark Properties.
Peninsula Investments, a notable partner in this venture, focuses on the acquisition and development of impactful real estate projects in both the U.S. and abroad, showcasing a track record of success in student housing.
Frequently Asked Questions
What is The Metropolitan on South U?
The Metropolitan on South U is a new student housing community being developed by Landmark Properties and Manulife Investment Management, featuring 259 units near the University of Michigan.
When will construction begin?
Construction for The Metropolitan is set to commence imminently, with great anticipation for its completion.
What amenities will residents enjoy?
Residents will benefit from modern amenities including a clubhouse, fitness center, pool, rooftop lounge, and ground-floor retail space.
How does this project benefit the student community?
This project aims to provide high-quality housing options for students, contributing to the local housing market and enhancing university life.
Who are the key players involved in this development?
Key players include Landmark Properties, Manulife Investment Management, and Peninsula Investments, with significant expertise in real estate development and management.
