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Student Housing Daily - November 19 - Landmark advances 700-bed development

Student Housing Daily - November 19 - Landmark advances 700-bed development

UCLA plans 1,150-bed tower. Hawkins Way Capital converts hotel into student housing. Lincoln Property Company acquires Capstone Development Partners. National student housing report - October 2025. Four new student housing deals.

Aid Sopjani & Matt H
November 19, 2025

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NEWS ROUNDUP

DEVELOPMENT: Landmark Properties advances 700-bed development. Landmark Properties is progressing on its 700-resident, 161-unit cottage-style community on Bunn Hill Road in Vestal, just south of Binghamton University. The Georgia-based developer bought the 44-acre site from the Kradjian family for $6.8 million in October 2024 and has since cleared the wooded land and begun erecting large buildings across the property.

DEVELOPMENT: UCLA plans 19-story, 1,150-bed student housing tower. UCLA is moving forward with plans for a new 19-story student housing tower, replacing five existing buildings with 42 apartments. According to a newly released environmental study, the 310,000-square-foot project will include 148 units—mostly four-bedrooms—housing up to 1,150 students. The university acquired the site last year.

DEVELOPMENT: Hawkins Way Capital converts hotel into 650-bed housing. Hawkins Way Capital has begun converting the 50-story former Holiday Inn in New York City’s Financial District into student housing, just months after purchasing the property for $155 million out of bankruptcy. Through its subsidiary Found Study FiDi, Hawkins Way hired adaptive reuse specialist BDB Construction to transform the 492-key hotel into a 650-bed dorm. The first phase is now complete. Tallal Bhutta, CEO of BDB, said nearby institutions—including Pace University, the New York Film Academy, The King’s College, CUNY schools, Baruch College, Hunter College and NYU—are expected to supply demand.

M&A: Lincoln Property Company acquires Capstone Development Partners. Lincoln Property Company has acquired Capstone Development Partners—including Capstone Management Partners—bringing one of the nation’s leading student housing and university facilities developers onto the Lincoln platform. Capstone will continue operating as Capstone Development Partners, powered by Lincoln. William Davis, previously Capstone’s chief development officer, will serve as managing principal, working alongside co-founders Bruce McKee and Jeff Jones, who will remain in leadership roles. “Capstone has long been a recognized leader in student housing and campus facilities development,” said Alison Daubert, chief strategy officer at Lincoln.

READ: National student housing report - October 2025.