The University of Maryland, in partnership with Campus Apartments and Mosaic Development Partners, has broken ground on a $148.75 million graduate student housing project on the university’s flagship College Park campus. The project will add 741 beds in 465 fully furnished apartments.
Scheduled to open in the 2026-27 academic year, the 323,000-sf residential building will provide furnished studios and two- to five-bedroom apartments. Common area amenities will include a large ground-floor conference space with interior and exterior courtyards, a penthouse community lounge and terrace, community breakout spaces, resident parking, and internal bike storage.
The housing development, which is targeting LEED Silver certification, will be within walking distance of the main campus and steps from a new Purple Line light-rail stop, expected to open in 2027.
The project represents the first phase in a three-phase plan to redevelop the Leonardtown section of the College Park campus.
Campus Apartments, the nation’s oldest and one of its largest privately held student-housing companies, and Mosaic Development Partners, a commercial real estate development and project management company, are leading the design, development, and construction of the graduate student housing development. Project collaborators include architects Gensler and Michael Marshall and construction partners Davis Construction and Smoot Construction.
“Through our partnership with Campus Apartments and Mosaic, we’re able to provide high-quality graduate student housing options that our university has long needed,” Carlo Colella, vice president and chief administrative officer at the University of Maryland, said in a statement. “This project marks a huge milestone for our growing campus and its ability to meet evolving resident experience needs and student demand.”
RBC Capital Markets has arranged financing for the development, which is funded through tax-exempt bonds.
Related Stories
MFPRO+ New Projects | Jul 2, 2024
Miami residential condo tower provides a deeded office unit for every buyer
A new Miami residential condo office tower sweetens the deal for buyers by providing an individual, deeded and furnished office with each condo unit purchased. One Twenty Brickell Residences, a 34-story, 240-unit tower, also offers more than 60,000 sf of exclusive residential amenities.
Student Housing | Jul 1, 2024
Two-tower luxury senior living community features wellness and biophilic elements
A new, two-building, 27-story senior living community in Tysons, Va., emphasizes wellness and biophilic design elements. The Mather, a luxury community for adults aged 62 and older, is situated on a small site surrounded by high-rises.
MFPRO+ New Projects | Jun 27, 2024
Chicago’s long-vacant Spire site will be home to a two-tower residential development
In downtown Chicago, the site of the planned Chicago Spire, at the confluence of Lake Michigan and the Chicago River, has sat vacant since construction ceased in the wake of the Great Recession. In the next few years, the site will be home to a new two-tower residential development, 400 Lake Shore.
Student Housing | Jun 25, 2024
P3 student housing project with 176 units slated for Purdue University Fort Wayne
A public/private partnership will fund a four-story, 213,000 sf apartment complex on Purdue University Fort Wayne’s (PFW’s) North Campus in Fort Wayne, Indiana. The P3 entity was formed exclusively for this property.
Affordable Housing | Jun 12, 2024
Studio Libeskind designs 190 affordable housing apartments for seniors
In Brooklyn, New York, the recently opened Atrium at Sumner offers 132,418 sf of affordable housing for seniors. The $132 million project includes 190 apartments—132 of them available to senior households earning below or at 50% of the area median income and 57 units available to formerly homeless seniors.
MFPRO+ New Projects | May 29, 2024
Two San Francisco multifamily high rises install onsite water recycling systems
Two high-rise apartment buildings in San Francisco have installed onsite water recycling systems that will reuse a total of 3.9 million gallons of wastewater annually. The recycled water will be used for toilet flushing, cooling towers, and landscape irrigation to significantly reduce water usage in both buildings.
Mass Timber | May 17, 2024
Charlotte's new multifamily mid-rise will feature exposed mass timber
Construction recently kicked off for Oxbow, a multifamily community in Charlotte’s The Mill District. The $97.8 million project, consisting of 389 rental units and 14,300 sf of commercial space, sits on 4.3 acres that formerly housed four commercial buildings. The street-level retail is designed for boutiques, coffee shops, and other neighborhood services.
Senior Living Design | May 16, 2024
Healthy senior living campus ‘redefines the experience of aging’
MBH Architects, in collaboration with Eden Housing and Van Meter Williams Pollack LLP, announces the completion of Vivalon’s Healthy Aging Campus, a forward-looking project designed to redefine the experience of aging in Marin County.
Adaptive Reuse | May 15, 2024
Modular adaptive reuse of parking structure grants future flexibility
The shift away from excessive parking requirements aligns with a broader movement, encouraging development of more sustainable and affordable housing.
Affordable Housing | May 14, 2024
Brooklyn's colorful new affordable housing project includes retail, public spaces
A new affordable housing development located in the fastest growing section of Brooklyn, N.Y., where over half the population lives below the poverty line, transformed a long vacant lot into a community asset. The Van Sinderen Plaza project consists of a newly constructed pair of seven-story buildings totaling 193,665 sf, including 130 affordable units.
