April 29, 2020
Prince George’s County is nearing approval of Greystar’s proposed 343-unit apartment building in College Park, immediately adjacent to the University of Maryland, the Baltimore Business Journal reported. A county planning board hearing on Greystar’s application is scheduled for Thursday.
The units in the nine-story building will be geared toward the University of Maryland’s student population. The development would also include 23,847 square feet of ground-floor retail.
In its application, Greystar describes the project as a “transformative opportunity along the southern edge of the University of Maryland Campus.”
Greystar is no stranger to student housing in College Park, the Business Journal reported. The Charleston, SC-based developer partnered with Rockpoint Group in 2018 to sell a 507-unit student apartment complex for $235 million. The CBRE team that represented the sellers in the deal called it the “largest ever single-asset student trade in the United States.”
Rendering courtesy of WDG Architecture.
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