Landmark Properties has unveiled plans to develop The Metropolitan at Tampa, a 760-bed student housing community in Tampa, Fla. Construction is slated to beging in June, with delivery scheduled for August 2024.
The project was originally started by Haven Campus Communities in 2021. Landmark is committing to the development, which is now part of the firm’s portfolio, after last month’s integration of Haven Communities’ properties and team into the company.
The four-story development will encompass 276 units and will offer a mix of studio, one-, two-, three- and four-bedroom apartments, with high-speed internet and washers and dryers. Community amenities include courtyards, a fitness center, study and gaming lounges, a pool, a spa, 1,779 square feet of ground-floor retail and 620 covered parking spaces.
Located at 2701 E. Fowler Ave., within half a mile of the University of South Florida campus, residents have easy access to the USF Botanical Gardens and USF Contemporary Art Museum. Situated within a retail and dining corridor, various stores and entertainment options are less than a mile away from the property, including the University Mall.
The Florida factor
The University of South Florida market recorded strong fundamentals, with enrollments up 14.4 percent year-over-year and rents increasing 13 percent on an annual basis as of December 2021. Currently, there are 1,912 bedrooms under construction, set to serve the institution, the latest Yardi Matrix report shows.
Landmark’s portfolio includes 80 student housing properties across the country, totaling more than 54,000 beds, with roughly 4500 units owned and managed in Florida. Just last week, the firm, alongside Peninsula U.S. Real Estate and W5 Group revealed plans to renovate The Cloisters, a 71-unit community near the University of Miami.