Construction is set to begin on The Metropolitan, a new 259-unit student housing development located at 1208 South University Ave. on the campus of the University of Michigan in Ann Arbor, following a partnership between Landmark Properties and Manulife Investment Management (Manulife IM).
Athens, Georgia-based Landmark Properties said the project marks the sixth build-to-core joint venture completed with the Manulife Infrastructure Fund pool, further strengthening the companies’ ongoing collaboration. Landmark Construction, the firm’s in-house general contracting arm, will oversee construction, while Myefski Architects will serve as architect.
The development also includes Peninsula Investments Group, a Miami-based private equity real estate firm focused on student housing and residential assets. The partnership adds to Peninsula’s growing investment footprint across Landmark’s national student housing portfolio.
“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.”
Located just steps from the Ross School of Business, the Michigan Diag, and a wide range of shopping, dining, and entertainment options, The Metropolitan is designed to serve students seeking proximity to campus and modern amenities. Landmark said the fully furnished residences will feature quartz countertops, hardwood-style laminate flooring, stainless steel appliances, in-unit laundry, and prewiring 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.
Planned community amenities include a clubhouse, modern fitness center, resort-style swimming pool, and a rooftop lounge offering multiple seating areas. In addition to residential space, the project will feature approximately 5,000 square feet of ground-floor retail, further integrating the development into the surrounding urban campus environment.
“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.
Developers said the project reflects continued demand for high-quality student housing as university enrollment remains stable and competition for well-located accommodations near campus intensifies. Once complete, The Metropolitan is expected to contribute both residential density and street-level activity to one of Ann Arbor’s most active university corridors.
Originally reported by Chris Sweeney, Managing Editor in CD Recycler.
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