Landmark Properties and Peninsula Investments Group Deliver 700-Bed Student Housing Community Near Binghamton University

Landmark Properties and Peninsula Investments Group have completed The Retreat at Bunn Hill, a 700-bed student housing community at 25 Retreat Way in Vestal, NY, situated approximately 0.6 miles south of the Binghamton University, State University of New York campus. The delivery, announced September 1, 2026, marks one of the largest purpose-built student housing additions to the Binghamton market.

Project Overview and Design

The Retreat at Bunn Hill spans approximately 314,300 square feet of residential space across 161 units on a roughly 44-acre site. The cottage-style community was designed by Niles Bolton Associates, with Landmark Construction — the in-house construction arm of Landmark Properties — serving as general contractor. Unit configurations range from two to five bedrooms across 15 distinct floorplans, with bed-to-bath parity throughout. Select unit sizes include approximately 1,130 square feet for two-bedroom layouts, up to roughly 2,000 square feet for five-bedroom configurations.

Each residence comes fully furnished and includes in-unit laundry, private bathrooms for each bedroom, quartz countertops, stainless-steel appliances, hardwood-style flooring in all living areas, and wiring for cable and high-speed internet. The community provides 554 onsite parking spaces and a dedicated campus shuttle.

"What our team and Peninsula Investments have built at The Retreat is unlike anything else in the Binghamton market," said Jason Doornbos, Chief Development Officer at Landmark Properties. "The Retreat's cottage-style design provides more living space alongside high-end finishes and an amenity program of unmatched scale in Binghamton. I couldn't be more proud of what this team accomplished, and I'm excited for students to experience it."

Amenities and Clubhouse

The development is anchored by a 12,000-square-foot clubhouse featuring a fitness and wellness center with a sauna and cold-plunge recovery area, a golf simulator, billiards and gaming lounge, coffee bar, private study suites, and conference-style collaboration rooms. Outdoor amenities include a heated pool and hot tub with surrounding cabanas, a hammock grove, basketball court, putting green, gaming lawn, fire pits, a dog park, and grilling and al fresco dining areas. Monthly per-bed rents at the property range from approximately $730 to $1,415 depending on bedroom count and floorplan.

Partnership and Strategy

The Retreat at Bunn Hill represents a continued joint venture between Landmark Properties and Peninsula Investments Group, a Miami-based private equity real estate firm that has invested in more than 42,000 beds across more than 14,000 units in 22 U.S. states and the United Kingdom.

"The Retreat at Bunn Hill reflects Peninsula Investments' commitment to developing best-in-class student housing at leading universities across the country," said Juan Fernando Valdivieso, Managing Director of Peninsula Investments. "We are proud to partner once again with Landmark Properties, this time to deliver a distinctive cottage-style community that combines high-quality residences, exceptional amenities, and convenient access to Binghamton University. We believe this community will provide an outstanding living experience for students and create lasting value for the university community for years to come."

The two firms recently announced the delivery of Narrative at Columbia, an 826-bed cottage-style student housing development at 1050 Idlewild Boulevard in Columbia, South Carolina, underscoring the partnership's active development pace across multiple university markets.

Landmark's New York Footprint

The Vestal delivery expands Landmark Properties' presence in New York State to more than 2,000 student housing beds across three properties. In addition to The Retreat at Bunn Hill, the firm operates The Standard at Syracuse near Syracuse University and The Station Buffalo near the University at Buffalo. The Standard at Syracuse, located at 910 Madison Street in Syracuse, comprises approximately 210 units and also delivered for the 2026 academic year.

Headquartered in Athens, Georgia, with offices in Atlanta, New York, and London, Landmark Properties manages more than 76,000 beds across over 115 residential communities in the United States, with assets under management exceeding $15 billion. The firm's active development pipeline includes more than 50 student and multifamily projects under construction or near-term start with an estimated value of over $10 billion.

Market Context

The Retreat at Bunn Hill enters a Binghamton student housing market that has historically had limited purpose-built, amenity-rich off-campus supply. The cottage-style, lower-density format — with individual house-like units positioned on a 44-acre site — differentiates the property from conventional mid- and high-rise student housing formats common in larger university markets. Per-bed rents at the property are positioned around or slightly below national averages for purpose-built student housing, which ranged from approximately $926 to $1,017 per bed during the 2025–2026 leasing cycle.

Sources

• Landmark Properties – Press Release: The Retreat at Bunn Hill