A new joint venture (JV) has been formed to develop a luxury student housing project, The Hall, on Florida State University (FSU) in Tallahassee, US.  

The JV members include Portman, Canyon Partners, 908 Group, and PTM Partners. 

The JV has secured a $73.3m senior construction loan from Pacific Life Insurance Company, with construction expected to be completed in time for the 2026-2027 academic year. 

The Hall, which will be situated in a qualified opportunity zone, will feature a total of 191 units and 674 beds across two mid-rise buildings.  

It is strategically located across from Legacy Hall, the future home of the FSU College of Business.  

According to Canyon Partners, The Hall aims to offer a luxury residential experience with amenities such as a rooftop pool, a fitness centre, and high-speed Wi-Fi.  

It will also include 452 parking spaces and 7,689ft² of ground floor retail space. 

FavorGray has been appointed as general contractor for the project. 

TSB Capital Advisors served as the financial advisor to Portman and 908 Group in the deal. 

908 Group has a track record of delivering over $1bn in purpose-built student housing projects nationwide, including 2,443 beds at FSU.  

Portman senior vice-president Rodney King said: “Today's students expect the best in their living experience, and Portman has a proven track record of delivering top-of-the-line residential communities that do just that. 

“We are entering the market with a solid deal to deliver a high-quality student housing project at one of the southeast's most prominent college campuses.

"We are bullish on student housing and are currently pursuing several deals at top-tier universities that will break ground in 2025.”