While many housing projects in the metro area are getting underway thanks to government subsidies, University of Maryland student housing is going private. Clark Builders Group are ahead of schedule on The Varsity, a six-story, 258-unit apartment complex being developed by College Park Gateway Properties. Contractors report that they are currently "topping out framing, hanging drywall, installing interior trim and cabinets and laying bricks." The development, although not required in any way to accommodate students, and open to all interested individuals, is being heavily marketed to University of Maryland Students. Located just off Route 1, a stone's throw (or an empty beer bottle's throw) from campus, at 8147 Baltimore Avenue in College Park, developers claim the 401,297 s.f. wood-framed building will be able to house over 900 students upon completion.
The standard brick and concrete exterior over wood frame design by Grimm & Parker Architects won't necessarily win any awards, but the building has been packaged with plenty of student-friendly amenities (study rooms, game rooms, and a 2-story state-of-the-art gym, to name a few) and access to green open parkland, as well as landscaped courtyards. The development also includes a partially elevated parking deck (over 200 spaces) and 19,298 s.f. of ground-floor retail space, which developers confirm were completed on May 15th are set to become a sit-down restaurant/sports bar along with a large convenience store. Although the deal hasn't been made official yet, Looney's Pub is expected to be the first tenant of The Varsity.
Many other developments are planned for the Baltimore Avenue corridor in College Park. The local blog Rethink College Park reported earlier this year that five of the seven active developments in the are were student housing projects. Clark Enterprises has been involved with two nearly completed projects in University View I & II, both right next door to the almost completed Varsity.
D.C. Real Estate Development News