Developer Will Deliver Cottage-Style Apartments With 546 Beds in Response to
Area’s High Demand for Off-Campus Housing Options
Athens, Ga. (October 17, 2025) – Landmark Properties, a fully-integrated real estate firm specializing in the development, construction, acquisition, investment management, and operation of high-quality residential communities, has partnered with Golden Primera on the acquisition of an 11.2-acre site in State College, Pennsylvania and revealed plans to develop The Retreat at Westerly, a new off-campus cottage-style apartment community with 546-beds at 418-428 Westerly Parkway, just one mile southeast from Penn State University. Peninsula Investments also partnered on the project, adding to their investments in Landmark communities. Landmark Construction will serve as the project’s general contractor.
The Retreat at Westerly will be comprised of a mix of townhomes and garden-style buildings that offer 142 units in a mix of two to five bedrooms. The site is large enough to support the more than 237,000-square-foot cottage-style project while still meeting requirements to remain within a commercial district, which will allow residents a quick walk/bike to campus and easy pedestrian access to retail, entertainment and dining options.
“The Retreat at Westerly will be the newest cottage-style housing product in the State College market by over half a decade. The expansive site enables the inclusion of a wider range of amenities than what’s typically feasible in infill locations. These factors, paired with continued enrollment growth, positions The Retreat to meet the need for students seeking spacious, highly-amenitized living near campus,” said Jason Doornbos, Chief Development Officer at Landmark Properties.
Units at The Retreat at Westerly will feature quartz countertops, stainless-steel appliances, hardwood-style laminate floors, in-unit laundry, and private baths for each bedroom. The apartments will come fully furnished, feature Wi-Fi enabled thermostats, and will be wired for high-speed internet and cable.
Landmark leveraged its deep market knowledge and operational expertise in programming The Retreat at Westerly’s amenity package. A 10,500-square-foot clubhouse and amenity area will include a resort-style pool, pickleball court, sauna and cold plunge, Jumbotron, study lounges, fitness center, grilling and fire pit areas, multisport simulator, and additional greenspace for outdoor recreation. The community will be adjacent to Westerly Parkway Plaza, a grocery-anchored shopping center that will provide a convenient off-site retail amenity for residents. On-site parking is planned for 417 cars, as well as storage for bikes and scooters; a CATA shuttle stop is planned on the premises.
“Golden Primera is excited to partner with Landmark on this best-in-class cottage-style community serving the Penn State market,” said Taylor Pierce, Director – Investments at Golden Primera. “We are confident The Retreat’s unique offering will be well positioned to benefit from the strong fundamentals in State College.”
“Peninsula Investments is proud to expand our partnership with Landmark through our 25th joint investment, and second in the Penn State market,” said Juan Fernando Valdivieso, Managing Director of Peninsula. “Penn State is one of the nation’s leading public research universities, known for its academic excellence and continued enrollment growth.”
Landmark Properties is committed to State College; The Retreat at Westerly will be the company’s fifth asset in the region. It currently owns and operates 2,483 beds across four properties: The Station State College, The Legacy at State College, The Metropolitan at State College, The Standard at State College. Landmark also developed The Retreat at State College, directly adjacent to The Retreat at Westerly and sold in 2013.
About Landmark Properties
Headquartered in Athens, Ga., with an office in Atlanta, Landmark Properties is a fully integrated real estate firm, specializing in the acquisition, development, and management of high-quality residential communities. With over $15 billion in AUM, Landmark’s portfolio includes over 115 residential communities across the United States with 72,000 beds under management. Additionally, Landmark benefits from an active development pipeline with over 50 student and multifamily projects under construction or near term start with an estimated value of over $10 billion. For more information, visit www.landmarkproperties.com.
About Golden Primera
Headquartered in Plano, TX, Golden Primera is the real estate investment vertical of a prominent Southeast Asian single-family office. The firm targets development and value-add opportunities within conventional multifamily, student housing, and build-to-rent sectors across the United States. For more information, visit www.goldenprimera.com.
About Peninsula Investments
Headquartered in Miami, FL, and Montevideo, Uruguay, Peninsula Investments Group is a leading private equity real estate firm specializing (through its different verticals) in the acquisition and development of student housing and residential projects in the U.S., as well as residential developments across Latin America. In student housing, the firm has invested in over 34,000 beds within more than 10,000 units in 21 U.S. states and the UK. For more information visit: www.peninsulainvestments.com.