Landmark Properties has acquired the parking lot of a well-known Atlanta landmark. The owners of The Varsity restaurant have agreed to sell 2 acres of their property along the Downtown Connector, but the price has not been disclosed.
The company plans to develop a 2,000-bed student housing project that will overlook Georgia Tech’s Bobby Dodd Stadium. According to reports from the Atlanta Business Chronicle, this development will not affect The Varsity’s operations. Landmark Properties also stated that their new tower will provide easy access for pedestrians into Georgia Tech’s campus.
With an increase in enrollment at Georgia Tech over the past three years (almost 10%), Landmark’s new project is expected to accommodate this growth. In fall 2023, enrollment for all degrees was nearly 48,000 students compared to just under 44,000 students in fall 2021.
The new development by Landmark Properties will offer various amenities such as a pool with jumbotrons and sports simulator as well as study spaces and sky lounges. This project marks their fourth venture in Midtown and Downtown areas and brings their intown portfolio up to more than4 ,000 beds.
