New Student Housing Development: The Metropolitan on South U
Introduction to The Metropolitan
Nestled adjacent to the University of Michigan’s campus, the Metropolitan on South U is set to become a vibrant addition to Ann Arbor’s landscape. This ambitious project, developed by Landmark Properties in partnership with Manulife Investment Management (Manulife IM), aims to provide high-quality, student-oriented living spaces that cater to the expanding needs of the university community.
Project Overview
Slated for construction at 1208 South University Ave, The Metropolitan will encompass 259 units tailored specifically for students. This development marks the sixth endeavor in a strategic joint venture with the Manulife Infrastructure Fund. The decision to invest in this project signifies confidence in the growing demand for student housing within the Ann Arbor market, particularly as enrollment at the University of Michigan continues to rise.
A Commitment to Quality and Design
Landmark Properties is not just a name in real estate; they are a fully-integrated firm dedicated to enhancing residential living through development, construction, and management of high-quality communities. In-house general contractor Landmark Construction will oversee the building of The Metropolitan, with Myefski Architects tasked with design. Their collective vision promises a modern housing environment that meets both functional needs and aesthetic standards.
Location and Accessibility
One of the most appealing aspects of The Metropolitan is its prime location. Just steps away from the University of Michigan’s Ross School of Business and the Michigan Diag, residents will enjoy unparalleled access to academic resources, shopping, dining, and entertainment. This strategic positioning places residents in the heart of student life, which is not only convenient but enriching for those seeking a vibrant college experience.
Living Spaces Designed for Students
The units at The Metropolitan will be fully furnished, designed with student living in mind. Features will include:
- Quartz countertops
- Hardwood-style laminate floors
- Stainless steel appliances
- In-unit laundry facilities
- Pre-wired internet and cable access
These modern conveniences cater to the needs of today’s students, promoting a comfortable and practical living environment.
Community Amenities
Beyond the individual units, The Metropolitan promises a host of community amenities to enhance residents’ lifestyles. Included in the plans are:
- A well-appointed clubhouse for social gatherings and study sessions
- A modern fitness center catering to those looking to maintain an active lifestyle
- A resort-style pool and rooftop lounge offering a scenic space for relaxation and socializing
- Approximately 5,000 square feet of ground-floor retail space, providing easy access to shopping and dining right at residents’ doorstep
Stakeholder Perspectives
Jason Doornbos, Chief Development Officer of Landmark Properties, expressed excitement about the project, noting, “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.” His sentiment highlights a broader commitment to supporting the university community and enhancing the living environment for students.
Similarly, Jonathan Kimball from Manulife IM remarked on the strategic partnership with Landmark, stating, “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.” This collaboration showcases a shared vision for impactful and sustainable developments.
The Role of Peninsula Investments
Peninsula Investments, an additional partner in The Metropolitan’s development, has a rich background in student housing projects across the U.S. Their involvement adds depth and expertise to the initiative. Juan Fernando Valdivieso, Managing Director of Peninsula Investments, noted the project’s significance: “Its proximity to Ross School of Business makes it an ideal location within Ann Arbor, a market with strong market fundamentals.”
Landmark Properties: Company Background
Headquartered in Athens, Georgia, Landmark Properties has established itself as a leader in the student housing sector, managing over 72,000 beds nationally. With a diverse portfolio worth approximately $15 billion, the firm continues to expand its horizons, actively developing over 50 projects with an estimated value exceeding $10 billion. Their commitment to quality and community engagement makes them a notable player in the real estate market.
Manulife Wealth & Asset Management
As a part of the global Manulife Financial Corporation, Manulife Wealth & Asset Management is devoted to providing investors with sound financial advice and management services. Their partnership with Landmark Properties in The Metropolitan reinforces their dedication to enriching communities through responsible investment.
Peninsula Investments: Company Insights
Peninsula Investments, based in Miami, is recognized for its focus on student housing and residential development. With a portfolio that spans over 40,000 beds, their expertise will bring invaluable insights to The Metropolitan, ensuring a high-quality living experience for future residents.
Media Contact Information
Those interested in more information regarding The Metropolitan can reach out to Great Ink Communications for media inquiries concerning Landmark Properties and Landmark Construction.
This detailed exploration of The Metropolitan on South U highlights a significant development endeavor aimed at serving the needs of the University of Michigan’s growing student population. The project stands as a testament to collaborative efforts among prominent industry players focused on quality, location, and community impact.