Landmark Properties and CrossHarbor Capital Partners Break Ground on 2,275-Bed Student Housing Development in Eugene

EUGENE, Ore. — Sept. 23, 2026 — Landmark Properties and CrossHarbor Capital Partners have broken ground on The Mark Eugene, a five-story, 272-unit student housing development at 1290 Alder St. in Eugene, Oregon, less than one-tenth of a mile from the University of Oregon. The first phase will deliver 1,002 beds and is scheduled for completion before the 2028–29 academic year.

The project is the first of two planned phases that together would bring 2,275 beds to the Eugene market. A second phase is planned for land north of the first building.

During the groundbreaking ceremony, The Mark Eugene presented a $10,000 donation to Food for Lane County, a local nonprofit focused on hunger relief. Representatives from Landmark's leadership team, CrossHarbor Capital Partners, Food for Lane County and local community members attended the event.

Project Details and Amenities

The first-phase building will rise five stories on a 2.62-acre site and offer floor plans ranging from studios to five-bedroom apartments. The development will include 5,785 square feet of ground-floor retail space within a parking deck at 13th Avenue and Hilyard Street.

The Mark Eugene will feature nearly 37,000 square feet of amenity space — approximately 36.9 square feet per bed — including a resort-style pool and spa with cabanas, outdoor grilling areas, a fire pit, a dog park and landscaped courtyards. Interior amenities will include a fitness center, sports simulator, wellness suite with sauna and cold plunge, study lounge with café, gaming lounge and bike storage.

The two-phase master plan, designed by ESG Architects, envisions a landscaped greenway serving as a pedestrian spine connecting Alder Street and Hilyard Street, with active facades along all streetscapes. The full two-phase site spans approximately six acres.

"Eugene continues to be a place where students want to live, learn and build community," said Aaron Stange, Senior Director of Development at Landmark Properties. "The Mark Eugene reflects our long-term commitment to this market, bringing more than 1,000 beds in its first phase and 2,275 at completion, all within a pedestrian-connected community near the University of Oregon."

Market Context

The University of Oregon enrolls approximately 25,092 total students. The 1,002 beds in the first phase represent roughly 4.7 percent of a 21,307-student comparison population identified in student housing research; the eventual 2,275 beds across both phases would equal approximately 10.7 percent of that figure. Those ratios reflect the project's scale relative to the student population, not vacancy or capture-rate estimates.

For the 2026–27 academic year, the University of Oregon estimated first-year room and board at $18,183, or roughly $2,000 per month over a nine-month academic year. A studio-style room at Yasui Residence Hall was listed at $15,545 for the academic year, or approximately $1,727 per month. Those figures provide a benchmark against which private off-campus housing options compete on cost, convenience and amenities.

The development's location — within walking distance of campus, retail, dining and nightlife — positions it as a pedestrian-oriented alternative to residence halls and more distant apartment options. The project will compete with existing off-campus student housing in the market, including Landmark's earlier Eugene development, The Standard at Eugene, as well as University of Oregon residence halls and conventional multifamily properties.

Landmark Properties and CrossHarbor Capital Partners

Landmark Properties is headquartered in Athens, Georgia, with offices in Atlanta, New York and London. The firm reported more than $15 billion in assets under management, over 115 residential communities and approximately 76,000 beds under management. Its active development pipeline includes more than 50 student and multifamily projects under construction or near-term start, with an estimated value exceeding $10 billion. In 2025, the firm launched approximately $2 billion in new development starts across 10 projects, closed roughly $3.5 billion in transactions and delivered six student housing communities for fall 2025, adding more than 6,800 beds to its portfolio. In April 2026, Landmark closed a $300 million sponsor fund.

CrossHarbor Capital Partners, founded in 1993 and based in Boston with offices in Chicago, Los Angeles and Big Sky, is a real estate investment manager with a $34 billion-plus investment track record and approximately $11 billion in current assets under management. The firm's multi-strategy platform spans property types, geographies and the capital structure.

Outlook

The Mark Eugene represents one of more than 50 projects in Landmark's active development pipeline. With the first phase targeting delivery before the 2028–29 academic year and a second phase planned to bring the total bed count to 2,275, the development marks a continued expansion of purpose-built student housing supply in the Eugene market near the University of Oregon.

Sources: Landmark Properties