BOONE, N.C. — A joint venture between Landmark Properties, HC2 Capital and Peninsula Investments has acquired a 40-acre development site near the Appalachian State University campus in Boone. The parcel will be home to a 625-bed student housing community dubbed The Retreat at Boone.
The development will offer 148 cottage-style units in three- through five-bedroom configurations with bed-to-bath parity. Shared amenities are set to include a resort-style pool and spa with cabanas and hammocks; a jumbotron; fire pit and grilling areas; a skate park; fitness center; golf simulator; recreational lawn games; and a computer lab.
The development team for the project, which is scheduled for completion ahead of Appalachian State’s 2027-2028 academic year, includes Landmark Construction and Niles Bolton Associates. Trustmark Bank and First Financial Bank provided construction financing.