Landmark Properties and Manulife IM to Build Premier Student Housing Community in Ann Arbor
Landmark Properties has cemented its presence in the residential communities sector through a strategic partnership with Manulife Investment Management to usher in a new era of student housing in Ann Arbor. The joint venture, which highlights a significant boost in development operations for the real estate firm, will oversee the construction of The Metropolitan on South U — a 259-unit housing community designed to cater to the growing student population in proximity to the University of Michigan.
This collaboration represents the sixth project under the build-to-core joint venture with the Manulife Infrastructure Fund pool, reflecting a continued confidence in the student housing market. The on-site construction operations will be spearheaded by Landmark Construction, reinforcing an ethos of excellence and reliability, with architectural ingenuity provided by Myefski Architects.
Jason Doornbos, Chief Development Officer of Landmark Properties, affirmed the company’s enthusiasm and highlighted the project’s positive implications for the local housing market. He 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 well-located community is poised to add renewed vibrancy to the university ecosystem in Ann Arbor.”
In conjunction with Peninsula Investments joining the fold, Landmark’s project promises to amplify its established foothold across the student housing community landscape. Juan Fernando Valdivieso, Managing Director of Peninsula Investments, shared his anticipation for the project’s benefits given its strategic location, underscoring the strong market fundamentals that make this development noteworthy. He commented, “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.”
The Metropolitan on South U is designed to offer residents an unparalleled housing experience, steps away from the University of Michigan’s central campus and vital cultural locales. With high-end furnishings and state-of-the-art amenities like a modern fitness center, resort-style pool, and a rooftop lounge, residents will find themselves immersed in a living space that is both convenient and conducive to their academic pursuits.
Jonathan Kimball, Associate Director at Manulife IM, recognized the project’s significance in relation to Landmark’s growth trajectory and local market conditions, asserting, “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.”
For those invested in the Multifamily Apartment Industry, this venture not only addresses immediate housing needs but also embodies a forward-thinking approach to accommodate the evolving demands of university students and the broader community. The Metropolitan on South U is poised to set a new standard for sustainable growth and vibrant community engagement in the heart of Ann Arbor.