Landmark JV Opens South Carolina Student Community
The project broke ground last year.
A joint venture between Landmark Properties and Peninsula Investments has opened Narrative at Columbia, an 826-bed student housing community in Columbia, S.C. The property serving the University of South Carolina has welcomed its first residents.
The partnership broke ground on the 197-unit student housing development in July last year and acquired the 67-acre site a month prior. The developer took out a $58.2 million construction loan from First-Citizens Bank & Trust Co., set to mature in 2028, according to Yardi Matrix information.
Partners on the project include designer E + E Architecture and general contractor Landmark Construction.
LISTEN TO: Earlier Leasing, Tougher Competition for Student Housing in Early 2026
The cottage-style community is at 1050 Idlewild Blvd., close to the University of South Carolina’s main campus and 3 miles from the city’s downtown. The property is also close to Williams-Brice Stadium and 12 miles from Columbia Metropolitan Airport.
Narrative at Columbia comprises 64 two- and three-story buildings. The unit mix consists of two- to six-bedroom floorplans ranging between 1,292 and 2,304 square feet. The fully furnished apartments also have private balconies or patios.
Common-area amenities include a fitness center, clubhouse, business center, volleyball court, swimming pool with sundeck, as well as a Jumbotron. The community also has a sports simulator, fire pits, outdoor grilling stations, cabanas and hammocks, study spaces and a computer lab.
The University of South Carolina reached an 85 percent preleasing rate as of May, according to a recent Yardi Matrix student housing report, up 2.1 percent year-over-year. Rent per bed also increased 4.3 percent from the same period last year. However, the average rent growth for the leasing season remained negative, at -9.2 percent.
Landmark’s recent southeastern activity
Landmark Properties’ portfolio comprises $14 million in assets under management, including more than 115 residential communities and 72,000 beds. The company also has 23 student and multifamily projects under construction or near-term start.
Landmark has continued to build out its student housing footprint across the Southeast, targeting major university markets with new development activity. In June, the company and an affiliate of Paceline Equity Partners announced plans to develop The Standard at Kennesaw, a 656-bed student housing project serving Kennesaw State University. The project is set to come online in time for the 2028 academic year.
During the same month, Landmark, HC2 and Peninsula Investments broke ground on The Retreat at Boone, a 625-bed student development in Boone, N.C. The 148-unit cottage-style community will be delivered next year.
