University of Maryland begins work on $148 million graduate student housing development
University of Maryland begins work on $148 million graduate student housing development 0 dbarista Wed, 10/09/2024 - 13:56 Student Housing 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. Novid Parsi, Contributing Editor Located on the university’s flagship College Park campus, the project will add 741 beds in 465 fully furnished apartments. MFPRO+ New Projects Multifamily Housing Student Housing Contractors Designers Designers / Specifiers / Landscape Architects Engineers Facility Managers Architects Building Owners 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.Rendering: GenslerRendering: Gensler
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.
Novid Parsi, Contributing Editor
Located on the university’s flagship College Park campus, the project will add 741 beds in 465 fully furnished apartments.
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.
