Baton Rouge, La. — Landmark spend more than a year assembling 20 parcels from 11 landowners to be able to develop on five acres next to campus. Harrison Street Real Estate Capital is the JV partner on this project.
Baton Rouge, La. — Landmark Properties has begun construction of a new off campus community at Louisiana State University. The project will be Landmark's first development to break ground for the fall 2015 leasing cycle, and raises the total number of beds currently under construction for Landmark to roughly 3,000—with another 2,200 scheduled to commence construction during the first quarter of 2014. The Standard at Baton Rouge is a joint venture between Harrison Street Real Estate Capital and Landmark Properties.
The Standard at Baton Rouge will be pedestrian to campus and will feature 847 beds in a range of one- to five-bedroom floor plans. In all unit types, students will find luxury finishes such as granite counters, stainless appliances, hardwood-style floors and other higher-end features. Additionally, The Standard will offer a limited number of premium units that each have a private roof-top patio and an expansive living room featuring a billiards table.
Amenities will include a roof-top swimming pool overlooking Tiger Stadium, extensive fitness facilities, a study lounge with private and group study rooms and a PGA quality golf simulator.
"We spent over a year assembling 20 parcels from 11 different land owners to put together theclosest possible off-campus site to the core of campus and the stadium," says Landmark President & CEO Wes Rogers, "It's very rare to be able to develop almost 5 acres literally adjacent to a major university like this. We're excited to partner with Harrison Street to bring our 'Standard' branded student housing to the students of Louisiana State University."
Landmark has developed more than 10,000 beds of student housing and has an additional 8,000 beds in the development pipeline. Landmark's infill concept, "The Standard," was first marketed to students at The University of Georgia in fall of 2013. Landmark continues to develop both "The Retreat" branded cottage-style developments and "The Standard" branded infill developments in college markets nationwide.