Horizon House, a nonprofit that focuses on mental health services, has sold its former Philadelphia headquarters for $17.92 million to a developer of student housing.

Landmark Properties of Athens, Georgia, bought the five-story, 79,200-square-foot building at 119 S. 31st St. and has plans to raze the structure to make way for a new development. The property is also known as 120 S. 30th St. and sits across from Evo at Cira Centre South, another student housing project.

Landmark plans to develop an 18-story, 291,850-square-foot structure on the .68-acre site that will have 280 units and serve as student housing. It will add more than 800 beds to the University City neighborhood. The project will be called the Standard at Philadelphia and will also have 3,082 square feet of retail space and 37 parking spaces.

*Article courtesy of Philadelphia Business Journal

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