Georgia-based developer Landmark Properties Inc. is considering a 750-bedroom student apartment building near the University of Central Florida, according to the Orlando Business Journal.
Citing Seminole County records, the Journal noted that the building, called The Retreat at Orlando II or The Station on Alafaya, will contain units starting at 900 square feet and will be up to three stories tall.
Landmark is planning to build the apartment complex on a 34-acre site in Oviedo, FL, north of the university's main campus.
The project comes as solid demand for student housing has developers heading to college and university towns to deliver projects featuring high-end amenities and proximity to campus, while universities themselves are investing in developing new and upgrading current onsite facilities for students.
Earlier this month, the University of Miami revealed plans for a $100 million student housing project, designed by Miami-based Arquitectonica, that is slated to provide 1,100 beds. The 23-building development will include green roofs and courtyards as well as a learning center, startup incubator and multipurpose rooms.
Mirroring the overall U.S. housing market, the robust student-oriented segment is also catching the attention of foreign players. In December, Beijing-based real estate private equity fund management company the Grand China Fund and Austin, TX–based Aspen Heights Partners broke ground on a $60 million, 17-story student housing project near the main campus of the University of Texas at Austin. It is slated to deliver 464 beds by the fall of 2018.
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