Landmark JV to Break Ground on Oregon Student Project
The community will comprise more than 1,000 beds.
A joint venture between Landmark Properties and CrossHarbor Capital will soon break ground on The Mark Eugene, a 1,002-bed student housing community in Eugene, Ore. The developer recently acquired the 2.6-acre site and will begin construction immediately. Delivery is expected ahead of the 2028-2029 academic year.
JLL Capital Markets brokered the land sale and secured construction financing. Partners on the project include designer ESG Architecture & Design, civil engineer KPFF Consulting Engineers and general contractor Landmark Construction.
The 272-unit Mark Eugene represents the first phase of a larger development that will total 2,275 beds at full build-out. Landmark will separately develop the second phase.
The student accommodation development will rise at 1290 Alder St., on the site of the former PeaceHealth Hospital. The community will be within walking distance of the University of Oregon at Eugene campus, in the city’s downtown area. It will also be close to Hayward Field and multiple dining and retail options.
The five-story building will comprise studio and one- to five-bedroom floorplans, along with almost 6,000 square feet of ground-floor retail space. Apartments will have in-unit laundry and bed-to-bath parity.
Shared amenities, set to encompass 37,000 square feet, are to include a swimming pool and spa with cabanas, clubhouse, outdoor grilling area, fire pit, dog park and fitness center. The community will also have multiple courtyards, seating areas, a sports simulator, a wellness suite with sauna and cold plunge, a study lounge and a café, as well as a gaming lounge.
JLL Senior Director Mike Brady, Managing Directors Stephen VanLeer and Tom Kirschbraun, along with Directors Sam Tarter and Charlie Watson, led the teams that arranged the financing and land sale.
Landmark’s growing student housing inventory
The Mark Eugene is Landmark’s second student housing development in the metro. The firm entered the school market back in 2022, when it broke ground on The Standard at Eugene, a 703-bed community less than 1 mile from the current project.
Landmark’s portfolio comprises more than 74,000 beds under management, as well as 50 student and multifamily projects under construction. And its development pipeline is set to grow as the company just announced that it will develop The Standard at Kennesaw, a 656-bed community serving Kennesaw State University.
The company also recently raised $300 million for Landmark Sponsor Fund LP, a student housing development fund that exceeded its original $200 million target. The vehicle attracted capital from institutional investors such as insurance companies, pension funds and registered investment advisors.
