Real estate firms celebrate groundbreaking on 600+ bed luxury student housing community
BOONE, N.C. (June 3, 2026) — Landmark Properties, a fully-integrated real estate investment management firm specializing in development, construction, acquisition and operation of high-quality residential communities, with HC2 Capital, LLC and Peninsula Investments, today announced the official groundbreaking of The Retreat at Boone, a new off-campus cottage-style student housing community being developed near Appalachian State University with delivery planned for the 2027-2028 academic year.
During the ceremony, The Retreat at Boone presented a $10,000 donation to Casting Bread, a local nonprofit. The donation will support their mission to address food insecurity in Western North Carolina through a community-centered, self-choice food pantry and soup kitchen.
“Boone’s purpose-built student housing market has seen no new supply since 2021, and lower density product hasn’t been introduced in well over a decade,” said Chase Powell, Senior Director of Development at Landmark Properties. “The Retreat at Boone was designed specifically for that gap – delivering a cottage-style living experience that gives students more space, more privacy and a genuine connection to both campus and the Boone community through a private shuttle service.”
Located at 250 South Wild Cherry Circle and situated on a 40-acre site, The Retreat at Boone will offer 148 units with a mix of three to five-bedroom floorplans and serve students attending App State University and the surrounding area. As one of the only new off-campus student housing developments built in Boone over the last five years, it will help meet the unmet demand for student housing in the area.
Once complete, the property will feature 625 beds and on-site parking for 588 vehicles, along with a private shuttle to campus. The community will also boast 12,514-square-feet of amenities, including a resort-style pool, fitness center, golf simulator, skate park, computer lab, Jumbotron and a variety of indoor and outdoor gathering spaces.
Representatives from Landmark’s leadership team, project partners from HC2 Capital, LLC and Peninsula Investments, associates from Casting Bread, and local community members attended the event.
For further information:
Landmark Properties
Isabella Luna
About Landmark Properties
Headquartered in Athens, Ga., with offices in Atlanta, New York, and London, Landmark Properties is a fully integrated real estate investment management firm specializing in the development, construction, acquisition, and operation of high-quality residential communities. With over $15 billion in AUM, Landmark’s portfolio includes over 115 residential communities across the United States with 74,000 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 HC2
HC2 Capital (HC2) is a Dallas-based real estate private equity firm specializing in the acquisition and development of institutional-quality multifamily and student housing assets across the United States. Founded in 2016, HC2 is led by principals with decades of combined experience investing alongside family offices, high-net-worth investors, and institutional partners in well-located properties serving the nation’s strongest demographic-driven markets. The firm’s student housing portfolio totals more than 3,400 beds across flagship university markets, including the Retreat at Boone. HC2 also specializes in EB-5 financing, providing senior and mezzanine debt for qualified projects. To learn more about HC2, please visit www.hc2capital.com.
About Peninsula Investments
Headquartered in Miami, Florida, Peninsula Investments Group is a leading private equity real estate firm specializing in the acquisition and development of student housing and residential projects in the U.S., as well as residential developments across Latin America and the UK. In student housing, the firm has invested in over 40,000 beds within more than 14,000 units in 21 U.S. states and the UK. For more information visit: www.peninsulainvestments.com.