Student Housing Daily - October 12, 2026 - Landmark completes 909-bed tower near Penn and Drexel

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NEWS ROUNDUP

DEVELOPMENT: Landmark completes 909-bed tower near Penn and Drexel. Landmark Properties has completed a 34-story, 909-bed student housing tower at 3615-35 Chestnut St. in Philadelphia's University City neighborhood, one block from the University of Pennsylvania and within walking distance of Drexel University. The 363-unit building is the tallest student housing property in the neighborhood and Landmark's second ground-up project in the city, after an 802-bed, 18-story community. BKV Group designed the project, Landmark's in-house construction arm served as general contractor, and First Abu Dhabi Bank provided a $175 million loan.

FINANCING: Affinius Capital provides $94.8 million construction loan near Oregon State. Affinius Capital has provided a $94.8 million construction loan to Fields Holdings for a 13-story, 667-bed student housing development near Oregon State University in Corvallis, Oregon. The project will have 262 studio through four-bedroom units with quartz countertops, stainless steel appliances, in-unit washers and dryers and smart-home technology. Amenities will include a pool, rooftop deck, indoor basketball court, sauna, theater, fitness center, yoga room, and study and resident lounges. The development will also include 4,500 square feet of retail space.

DEVELOPMENT: Subtext completes 1,124 beds near UCF and University of Tennessee. Subtext has completed two student housing developments with a combined 1,124 beds near the University of Central Florida in Orlando and the University of Tennessee in Knoxville. The 626-bed Orlando project spans 446,078 square feet with 200 studio through five-bedroom units and was developed with FrontRange Capital Partners and Nuveen Real Estate, with financing from Simmons Bank and a team that included Dwell Design Studio, ESG Architecture & Design, Kimley-Horn and Associates and Live Oak Contracting. The 14-story, 498-bed Knoxville property spans 329,294 square feet with 136 one- through five-bedroom units and was developed with FrontRange Capital and TPG Real Estate Partners.

DEVELOPMENT: Northwood Ravin launches leasing at Publix-anchored development near UGA. Northwood Ravin has launched leasing at a 179-unit student-focused apartment community under construction at Broad Street and Milledge Avenue in downtown Athens, Georgia, next to the University of Georgia's North Campus. The Charlotte-based developer said the project will include a Publix grocery store, the first national grocer to operate in downtown Athens. Units will range from studios to three bedrooms. Amenities will include coworking space with a coffee bar, a wellness lounge, a pool and courtyard with cabanas, a putt-putt course, a jumbotron, a game room and a fitness center with two private training and wellness studios.

READ: Green Street index slips 0.1% as student housing values fall 4.7%.

STUDENT HOUSING FOR SALE

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