Landmark Properties, in a joint venture with HC2 Capital, LLC and Peninsula Investments, announced the acquisition of a 40.05-acre site in Boone, North Carolina, that will be developed into The Retreat at Boone, a cottage-style off-campus student housing community with 625-beds near Appalachian State University.
The Retreat at Boone will feature 148 units in a mix of three to five bedrooms, with amenities including a resort-style swimming pool and spa with cabanas and hammocks, Jumbotron, fire pit and grilling areas, a skate park, a fitness center, golf simulator, recreational lawn games, and a computer lab. The project will also offer parking for 588 cars as well as a direct shuttle to the university. Delivery is planned for the 2027-2028 academic year.
Trustmark Bank and First Financial Bank is providing construction financing for the project, with Landmark Construction serving as the project’s general contractor and Niles Bolton Associates being retained as the architect.
Jason Doornbos, chief development officer at Landmark Properties, declared, “The Retreat at Boone will provide much needed off-campus housing options to students attending Appalachian State University. The area’s strict development regulations, paired with steady and record-setting enrollment growth at the university, has led to a massive amount of unmet demand for student communities.”
Landmark also owns and operates The Standard at Boone, a 560-bed, 203-unit student housing development in Boone that opened in 2016.
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