Park7 Kicks Off $100M Student Housing Project

Developer Park7 Group and general contractor Hoar Construction have broken ground on Icon Tallahassee, a 804-bed student housing project in Tallahassee, Fla. The $100 million development is scheduled for delivery in the fall of 2028.

Upon completion, Icon Tallahassee will feature units with one- to five-bedroom layouts. Shared amenities will include a club room, study lounges, a rooftop deck, a fitness center with yoga studio, as well as an underground parking area with bike and scooter storage. The future nine-story community is slated to become one of the tallest buildings in the neighborhood.

The development site is near Doak S. Campbell Stadium and Florida State University, in Tallahassee’s Collage Town neighborhood. The city’s downtown area is within 1 mile east.

Park7 Group owns another student housing in Tallahassee, namely The Boulevard, a 924-bed community acquired in 2013. Since opening in 2012, the company has developed student housing properties valued at $750 million in nine cities across the U.S.

Multifamily sector is hot for the Southeast region

Anchored by Florida State University, which provides a stable governmental and higher-end market, Tallahassee ranks among the top 10 emerging multifamily markets in the U.S. In 2025, deliveries in Florida’s capital city accounted for 4.3 percent of stock, surpassing the national figure of 3.4 percent. During the same timeframe, the pipeline totaled 2,111 units underway.

Additionally, the institution ranked in the top five southern universities for student housing development as of September last year. The school had 2,353 beds under construction, accounting for 5.5 percent of its total enrollment.

One of the projects underway is Leo Tallahassee, a 782-bed luxury development. Up Campus Student Living expects to complete it before the start of the 2027 academic year.