**Fairlawn and Promus Realty Properties Announce UIUC Student Housing Project**
Fairlawn, in partnership with Chicago-based Promus Realty Properties, has announced a joint venture to develop Mosaic, a new 283-unit, 371-bed student housing community located adjacent to the University of Illinois Urbana-Champaign’s (UIUC) Engineering Campus.
Situated at 401 S. Wright Street, the project site has already undergone demolition, and construction is currently underway. Mosaic is designed to provide high-quality student accommodations complete with elevated amenities, including a sky lounge, outdoor terrace, state-of-the-art fitness center, collaborative study spaces, and a landscaped courtyard. The property will be professionally managed by Smile Student Living, Fairlawn’s dedicated student housing affiliate.
Fairlawn has commissioned Mode 3 Architecture for the design and Wells and Wells Construction for the build. Construction financing is being provided by Wintrust Commercial Real Estate and Associated Bank.
“Mosaic builds on Fairlawn’s extensive development track record at the University of Illinois, which is not only one of the premier public universities in the country but home to one of the nation’s top engineering programs,” said Jason Barickman, Chief Investment Officer at Fairlawn.
For those interested in multifamily trends and developments, join us on the afternoon of Tuesday, June 2, 2026, at Joe’s Live in Rosemont, IL, for the Connect Midwest Multifamily Trends conference.
