University of Michigan student housing project to begin construction

Landmark Properties has partnered with Manulife Investment Management (Manulife IM) to construct The Metropolitan, a 259-unit student housing community to be located at 1208 South University Ave. on University of Michigan’s campus in Ann Arbor.

According to Athens, Georgia-based Landmark Properties, this project represents the sixth project in a build-to-core joint venture executed with the Manulife Infrastructure Fund pool. Landmark Construction, the in-house general contractor for Landmark Properties, will build the project with Myefski Architects serving as the architect.

Peninsula Investments Group, a Miami-based private equity real estate firm specializing in the acquisition and development of student housing and residential projects, also partnered on the project, adding to their investments across Landmark’s portfolio of student housing communities.

“We are excited to move forward with construction on The Metropolitan on South U and bring much needed housing to the Ann Arbor market as enrollment growth at the University of Michigan remains steady,” says Jason Doornbos, chief development officer of Landmark Properties. “The well-located community is poised to add renewed vibrancy to the university ecosystem in Ann Arbor.”

The Metropolitan is steps from the University of Michigan’s Ross School of Business, the Michigan Diag and a variety of shopping, dining and entertainment options. Landmark says fully furnished residences will feature quartz countertops, hardwood-style laminate floors, stainless steel appliances, in-unit laundry and will be prewired for internet and cable access.

“We are proud to expand our partnership with Landmark with this development at the University of Michigan, supported by strong local market fundamentals and a premier location adjacent to campus,” says Jonathan Kimball, associate director at Toronto-based Manulife IM.

Community amenities will include a well-appointed clubhouse, modern fitness center, resort-style pool and rooftop lounge with a variety of seating options. The Metropolitan will also include about 5,000 square feet of ground-floor retail space.

“We are excited to partner with Landmark on our second development at the University of Michigan, and ninth in 2025.  Its proximity to Ross School of Business makes it an ideal location within Ann Arbor, a market with strong market fundamentals,” Peninsula Investments Managing Director Juan Fernando Valdivieso says.