Landmark Properties to Develop The Mark Philadelphia

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Jan 12, 2023, 09:01 ET

High-rise project will add 909 Beds to the University City District

ATHENS, Ga., Jan. 12, 2023 /PRNewswire/ -- Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, announces its second project in the Philadelphia, Pennsylvania market. The Mark Philadelphia will be located at 3615 Chestnut Street adjacent to the campus of the University of Pennsylvania and Drexel University. The project will welcome its first residents in fall of 2026.

Landmark Properties announces the development of The Mark Philadelphia, the company's second project in the Philadelphia, Pennsylvania market. Adjacent to the campuses of the University of Pennsylvania and Drexel University, the project will welcome its first residents in fall 2026.

"We are thrilled to develop our second project in the University City district," said Landmark President and CEO, Wes Rogers. "The Mark will allow residents to live in close proximity to campus while enjoying amenities not typically found in a high-rise building."

The project will feature 363 units ranging from Studio to Six Bedrooms in size. Unit features will be top-of-the line including quartz countertops, stainless-steel appliances, and hardwood-style floors. Every residence is fully furnished and includes technology-related amenities in the common area as well as high-speed internet and cable.

The Mark will stand at 34 stories topped by its signature rooftop amenity area featuring a pool and hot tub and lounge area with sweeping views of Center City Philadelphia. Additionally, residents can access 24-hour study lounges, computer lab, sauna and 24-hour fitness center. For residents with vehicles, reserved parking will be offered for an additional fee.

The development will also feature 55,938 square-feet of historic office space located adjacent to the high-rise portion of the development. Landmark Construction will serve as general contractor for the duration of the project.

With over $10 billion assets under management, Landmark's portfolio includes almost 100 residential communities across the country with approximately 60,000 beds. Landmark currently has 21 student, BTR, and multifamily projects under construction with an estimated value at $3.8 billion, and a significant and growing development pipeline.

About Landmark Properties

Headquartered in Athens, Ga., with an office in Atlanta, Landmark Properties is a fully integrated real estate firm, specializing in the acquisition, development, and management of high-quality residential communities. With more than $10 billion assets under management, Landmark's portfolio includes nearly 100 residential communities across the country with more than 60,000 beds under management. Additionally, Landmark benefits from an active development pipeline with 21 student and multifamily projects under construction with an estimated value at $3.8 billion. Landmark's mission is to be the leader in development, construction, operations, and investment management of high-quality residential communities, delivering unrivaled service and experience to our residents, partners, and employees. For more information, visit www.landmarkproperties.com.

SOURCE Landmark Properties