CHARLES COUNTY, MD-Federal Capital Partners’ American Communities Properties subsidiaries is moving forward with its massive planned community in the county, having recently broken ground on a new apartment community called Gleneagles II.
Located in the Saint Charles development, Gleneagles II is a 120-unit multifamily project that is scheduled to open next summer. The company doesn’t have specific plans for the next groundbreaking at Saint Charles, spokesperson Craig Renner tells GlobeSt.com. Currently, it is halfway through developing with the zoning rights it has in the country, he says. The new building is next to Gleneagles Apartments, a 184-unit property that delivered in March and is now 70% occupied.
Saint Charles is a 9,100-acre planned community that includes more than 12,000 housing units, including the 2,500 apartments owned by ACPT. The community is zoned to include more than 24,000 housing units when fully developed.
Other recent developments at Saint Charles include the expected delivery of a new office building in November at O’Donnell Lake and the recent opening of a new public high school. Also, this April a new Hilton Garden Inn opened at O’Donnell Lake that is operated by Shahmin Hotels.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
