Construction of a new student apartment complex at the University of Florida Gainesville campus will finally commence within weeks, turning three mostly vacant blocks on a prime corner into a 10-story mixed use complex.
The project was originally conceived 13 years ago. Buildings were demolished for an earlier initiative but left as a grass field when the recession hit.
Landmark Properties, a student apartment developer based in Athens, GA, purchased the property for $26 million from a partnership led by Daytona Beach developer George Anderson in Nov. 2014.
Landmark Properties, a student apartment developer based in Athens, Georgia, bought the property from the partnership headed by Daytona Beach developer George Anderson for nearly $26 million in November 2014, and changed the name from University Corners to The Standard at Gainesville.
Lamdmark’s agreement with the Gainesville Community Redevelopment Agency requires construction to start by Sept. 1 and be completed by Nov. 15, 2017.
Landmark President and CEO J. Wesley Rogers indicated in a published report that he will meet the deadline.
The developer closed o the purchase of Sun Bay Apartments at Southwest 16th Ave. and Sixth St. and will demolish it once the last remaining tenants move out. This building will be replaced by 188-unit, 787-bedroom cottages– houses divided into apartments — scheduled to open in time for the fall 2016 semester.