Student housing developers are kicking off their latest developments this spring with new supply primarily coming online in late summer 2027.
According to Yardi Matrix’s latest National Student Housing Report for March, new supply of off-campus, dedicated student housing has been on the decline and is anticipated to see lower levels over the next several years. Last year, 35,703 beds were delivered, down from 44,746 beds in 2023. Yardi Matrix forecasts 32,100 beds in 2025 and 33,995 beds in 2026.
Read more about these new developments—spanning Florida, Indiana, New York, Texas, and Virginia—from Gilbane Development Co.; Landmark Properties; PeakMade Real Estate; Pinecrest; Portman Holdings and 908 Group; Subtext; and Up Campus Living.
Blume on Ivy and Leo Tallahassee
Up Campus Student Living has unveiled its latest developments—Blume on Ivy in Charlottesville, Virginia, near the University of Virginia, and Leo Tallahassee near Florida State University (FSU). Both are slated to open in summer 2027 to welcome students for the fall semester.
“Blume on Ivy reflects our mission to create vibrant, high-quality student communities that blend modern conveniences with the best aspects of student life,” said managing partner Stephen Bus.
The 641-bed community will provide fully furnished one- to two-bedroom apartments. Interiors will include quartz countertops, stainless steel appliances, in-unit washers and dryers, and flat-screen TVs. It also will feature over 20,000 square feet of resort-style amenities, including a rooftop deck with a pool, a jumbotron, cabanas, grilling stations, and fire pits. Other amenities include a fitness and wellness center with private training studios, a sauna, and a spa; study lounges; a game-day lounge; and a high-tech golf simulator.
Fifth Third Bank and First Citizens Bank providing financing for Blume on Ivy.
The 782-bed Leo Tallahassee also will have fully furnished apartments with in-unit washers and dryers, LED vanity mirrors, walk-in showers, full-size beds with under-bed storage, and high-speed Wi-Fi.
The community will feature a 9,500-square-foot rooftop deck overlooking campus with a resort-style pool, a hot tub, a jumbotron, cabanas, grilling stations, and more. It also will boast over 26,000 square feet of indoor amenities, including a study lounge with individual and group pods; a business center; a game-day lounge; a golf simulator; a wellness center with cross-training studios, tanning, and cold plunge; and indoor pickleball and basketball courts.
It will be Fitwel-certified, touting Energy Star appliances, LED lighting, electric vehicle charging stations, a student car-share program, and bike and scooter parking.
“We appreciate the city and university for helping realize the vision here to deliver on a superb, high-profile project at a gateway entrance to campus. Thanks to our capital partners, CIBC and TSB, for helping get this project off the ground,” said Bus.
Additional partners include architect Dwell Design Studio, civil engineer Moore Bass, MEP engineer Jordan & Skala Engineers, structural engineer Pierce Engineers, landscape architect Land Design, and interior designer B2 Design Co.
EVER and VERVE College Station
Subtext and equity partner Larson Capital Management have embarked on a two-phase development that will serve Texas A&M students in College Station’s Northgate Entertainment District.
The first phase will be EVER College Station, which will start construction this summer and deliver in summer 2027. VERVE College Station is the second phase, with delivery expected in summer 2028.
“At Subtext, we’re creating communities that support every part of the college experience. Students juggle it all—wellness, academics, social life, and everything in between. EVER and VERVE College Station offer distinct spaces designed for the many ways students live, study, and connect, giving them the freedom to shape their own path,” said Subtext founding partner and co-CEO Brandt Stiles. “It’s about meeting students where they are and offering environments that help them make the most of college.”
The seven-story EVER College Station will include 545 beds across 176 units, while the 21-story VERVE College Station will feature 1,193 beds across 382 units.
Both will feature layouts ranging from studios to five-bedroom apartments and will include over 29,000 square feet of indoor amenities and 26,000 square feet of outdoor amenities. These will include versatile study spaces, from open lounges to private and collaborative rooms; a coffee bar; a fitness center; a wellness suite with a sauna and meditation rooms; a resort-style pool and spa with cabanas, a jumbotron TV, and a sky lounge; a multisport simulator; a dog run; and an outdoor lounge with yard games.
Partners include architect and interior designer ESG Architecture & Design, MEP engineer Emanuelson-Podas, civil engineer Quiddity, and landscape architect Ironwood Design Group. For EVER, OHT Partners is the general contractor, and Viewtech Structural Consultants is the structural engineer. For VERVE, Hoar Construction is the general contractor, and SK&A is the structural engineer.
The Hall
Portman and 908 Group have started vertical construction on The Hall, a student housing development adjacent to FSU in Tallahassee. It is slated to welcome students in summer 2026.
The development will embrace luxury student living, comprising 191 units and 674 beds across two mid-rise buildings. Students will have access to high-end amenities, including a rooftop pool, a fitness center, and high-speed internet throughout. The Hall also will include over 7,000 square feet of ground-floor retail.
“Commencing vertical construction marks a significant milestone in our collaborative effort to bring an upscale residential experience to the growing number of students at FSU,” said Portman senior vice president Rodney King. “The Hall is thoughtfully designed with today’s college student in mind, with state-of-the-art amenities that will attract local and nationally recognized retailers.”
Joint-venture partners also include Canyon Partners Real Estate and PTM Partners.
The Penny on College Main
Pinecrest has broken ground on The Penny on College Main in College Station. The 109-unit, 605-bed student housing community is located within walking distance of Texas A&M and the Northgate Entertainment District, offering a blend of convenience and modern living.
The development will comprise a mix of studio, one-, two-, three-, four-, and five-bedroom units, offering a variety of living options, including townhouses, with full kitchens, in-unit washers and dryers, and private bathrooms for each bedroom.
“At the forefront of every design decision we’ve made for The Penny, we asked ourselves, ‘how can the community help our residents stay in school?’” said CEO Tyler Perlmutter. “We believe The Penny will be more than a place people live, rather it will be a place where students flourish academically and socially with endless opportunities at their doorstep in College Station.”
To help achieve those goals, The Penny will feature multiple study spaces on residential floors for individual and group needs; a resort-style pool; a pickleball court; a fitness center; and a pet washroom and relief area. The development also will prioritize sustainability, with a recycling program, EV car chargers, and water bottle filling stations on each floor.
Leasing will begin in fall 2026, with move-ins expected for late summer 2027. Partners on the project include architect Rhode Partners, general contractor Rycon Construction, civil engineer Mitchell & Morgan, and Rhode Interior Design. Financial partners include CIBC USA and First Bank of Chicago.
The Standard at West Lafayette
Landmark Properties has started construction on The Standard at West Lafayette, adjacent to Purdue University in West Lafayette, Indiana. This marks the fourth development in a build-to-core joint venture with Manulife Investment Management and Landmark Properties’ second in Indiana. It previously opened The Standard at Bloomington for fall 2023 for students attending Indiana University.
Expected to deliver for the 2027 academic year, the 253-unit, 678-bed community will offer fully furnished residences with floor plan options ranging from studios to four-bedroom units. All units will include gourmet kitchens, high-speed internet and cable, and in-unit laundry.
The amenity package will be robust and will span over 18,000 square feet. Students will have access to a rooftop clubhouse with an outdoor heated pool and a fitness center; a fourth floor indoor-outdoor amenity level with seating, a grilling area, a gaming lounge, and an interior courtyard; and study spaces on every floor.
“Purdue’s record enrollment highlights the need for premium off-campus housing,” said Jason Doornbos, chief development officer at Landmark Properties. “The Standard will help meet those needs, offering an outstanding student living experience with unmatched, resort-style amenities and a prime location, placing students steps from campus and at the heart of the Purdue community.”
Landmark Urban Construction, an affiliate of Landmark Properties, serves as general architect, and BKV Group is the architect of record. In addition, Peninsula Investments partnered on the project, and TSB Capital Advisors coordinated financing through BMO Bank.
Theory Ithaca
PeakMade Real Estate Capital and Blue Vista Capital Management, in partnership with W5 Group, have broken ground on Theory Ithaca in Ithaca, New York. The development will include 581 beds across 371 units and will serve Cornell University graduate students, university affiliates, and the greater Ithaca community.
Theory Ithaca, which is scheduled to open in time for the 2027 academic year, marks the continued expansion of Peak and Blue Vista’s Theory-branded portfolio in major university markets.
It will offer studio to three-bedroom floor plans, modern study lounges, a luxury fitness center, and access to nature along Six Mile Creek.
“The Cornell University market is one of the most undersupplied student apartment markets in the country, especially for graduate students,” said Jeff Githens, president of development at PeakMade Real Estate. “Theory Ithaca plans to serve this unmet demand with an exceptional project in an irreplaceable location in between Cornell’s campus and downtown Ithaca.”
Zaya
Gilbane Development Co. is partnering with CBRE Investment Management on Zaya, a purpose-built student housing development that will be located near the University of Florida in Gainesville. The recent financial closing marks a step forward in Gilbane and CBRE’s strategic partnership, which includes six student housing communities at top-tier universities across the country.
The 302-unit Zaya comprises 702 beds and will feature a plethora of activities for both leisure time and hitting the books. A rooftop amenity deck will include a pickleball court, a pool, a clubhouse, and a fitness center. Students also will have access to study rooms on every floor, a coworking lounge, high-end appliances, in-unit laundry, and a leasing lobby with a coffee bar. Three distinct courtyards will feature lawn games, outdoor cooking, and relaxed lounge settings.
“Zaya will offer 100% private en-suite baths for every bed—an unmatched feature among nearby communities, ensuring unparalleled privacy and convenience,” said Conor O’Halloran, development manager at Gilbane Development Co. “Purposely built within a vibrant urban area, Zaya provides students the rare opportunity to immerse themselves in dynamic city life while also enjoying the tranquility and serenity of a thoughtfully designed environment, fostering both academic success and personal well-being.”
Sitework construction has started, with an anticipated completion of summer 2027.
