“The Standard” project is located in Syracuse, Upstate New York. A total of 210 residential units, containing 632 beds for students, are being built on a plot of roughly 8,000 square meters at 910 Madison Street. The building is situated on the north side of the Syracuse University campus. With approximately 22,000 students and a history spanning over 150 years, Syracuse University is one of the most prestigious private universities in the US. According to evaluations by US News and Forbes, it ranks among the top 15 percent of universities in the country.
“Our student housing project in Syracuse is a significant milestone for us. It marks the first time we have invested alongside selected private investors in the US. We plan to further expand this co-investment approach for institutional investors in the DACH region and family offices,” emphasizes Ralph Winter, founder of the W5 Group.
“In collaboration with our partner Landmark, we aim to set new standards in student accommodation with our Innovative Living concept. This concept is a key aspect of our strategy. Innovative Living properties in the US represent 1.5 billion USD of our total real estate investments, which amount to approximately 5 billion USD,” explains Celine Winter, Head of Business Development at the W5 Group and a member of the second generation in the Winter Family Office.
The project development is based on the W5 concept of Innovative Living, with a primary focus on meeting the specific needs of millennials and Generation Z. The idea of community is central to this concept, promoting interaction and a sense of togetherness among residents. Special importance is attached to communal activities and facilities, including a 24-hour fitness center, a sauna and spa, multiple communal study areas, a large hot tub, an outdoor barbecue area, and a 220-space parking deck. The building is fully digitalized to the latest standards. Each residential unit is equipped with designer furniture, private bathrooms, parquet flooring, high-quality kitchen fittings, and some units also feature balconies.
Syracuse, located in Upstate New York near the Canadian border, has a population of around 150,000. The city is home to many chemical, industrial, and aviation companies, as well as Syracuse University. Students make up approximately 20 percent of the city’s population. Micron Technology plans to invest 100 billion USD to build four semiconductor production plants in Syracuse, creating an estimated 9,000 high-paying direct jobs and 40,000 indirect jobs. In response, the university is significantly expanding its engineering and IT faculties, with plans to double its student numbers and research expenditure.
