#USA #Ann Arbor #Landmark Properties #Manulife Investment #The Metropolitan

Landmark Properties and Manulife Investment Management Start Construction on The Metropolitan

Landmark Properties, in collaboration with Manulife Investment Management, has officially announced the commencement of construction for a new student housing facility known as The Metropolitan on South University Avenue in Ann Arbor, Michigan. This significant development will introduce a total of 259 residential units aimed primarily at students from the nearby University of Michigan, illustrating the firm’s commitment to expanding and enhancing campus living.

Located at 1208 South University Avenue, The Metropolitan represents the sixth venture in a progressive build-to-core joint project with Manulife Investment Management. The announcement comes as student enrollment at the University of Michigan continues to rise, emphasizing the necessity for quality housing options in the area.

Project Details

Construction is set to kick off imminently, with Landmark Construction, the in-house contracting wing of Landmark Properties, leading the build. Renowned Myefski Architects will oversee the design and architectural elements, ensuring a modern and functional living space tailored for students. Furthermore, Peninsula Investments has also joined this ambitious project, signaling a strong belief in the potential of this educational housing market.

As the Chief Development Officer of Landmark Properties, Jason Doornbos, stated, "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." The project is strategically positioned to inject fresh vibrancy into the university ecosystem and enhance the living experience for its students.

Strategic Location

One of the standout features of The Metropolitan is its proximity to several key local sites. The development is just a short stroll away from the University of Michigan’s Ross School of Business and the iconic Michigan Diag, alongside a rich landscape of shopping, dining, and entertainment venues. Such accessibility is critical in creating a dynamically engaged student community.

The fully furnished apartments are set to include exceptional amenities such as quartz countertops, stylish hardwood-style laminate flooring, stainless steel appliances, laundry facilities within the units, and pre-wired internet and cable capabilities. These features not only promote comfortable living but also cater to the needs of today’s tech-savvy students.

Community Amenities

Beyond individual units, The Metropolitan will offer various communal spaces for leisure and socialization. Anticipated amenities include a modern fitness center, an inviting clubhouse, and a striking resort-style pool. Additionally, a rooftop lounge will provide a variety of seating options, creating a perfect setting for gatherings, relaxation, and study sessions. To support the local business community, approximately 5,000 square feet of retail space will also be available on the ground floor.

As noted by Jonathan Kimball, the Associate Director at Manulife IM, "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 sentiment echoes a broader trend within the real estate market, showcasing an increasing demand for well-situated student housing.

The Future of Student Housing

The Metropolitan on South U is a prime example of the ongoing evolution of student housing solutions. As universities grow and attract more students, the need for high-quality, accessible housing will only intensify. Landmark Properties is well-aligned with this demand, bolstered by a substantial portfolio of real estate developments across the United States.

With around $15 billion managed in assets and over 72,000 student beds under management, Landmark Properties has set an industry standard in the development of residential communities, particularly in relation to student accommodations. The company’s commitment to innovation and quality is evident in each project, and The Metropolitan is poised to be a noteworthy addition to its portfolio.

In conclusion, as construction progresses on The Metropolitan, anticipation builds for what this new community will bring to Ann Arbor. The collaborative efforts of Landmark Properties, Manulife Investment Management, and other partners not only reflect a strategic investment in the area but also a growing understanding of the essential role that quality housing plays in the academic success and overall well-being of students.