COLLEGE PARK, MD—Monument Realty broke ground on a new project here—Monument Village at College Park, a 235-unit apartment building located at Baltimore Ave. and Cherokee Street just north of the University of Maryland. It is the company's first multifamily groundbreaking in Prince George's County but the company has hopes there will be "many more to come" in the submarket, according to principal Michael Darby.
The building will have a range of amenities including a pet spa, zen garden, bicycle storage and repair room, fitness center and an outdoor pool and grilling area. There will also be 4,800 square feet of ground floor retail.
The project is expected to deliver in early 2016. It was designed by The Preston Partnership and will be constructed by The James G. Davis Construction Corp.
Earlier this year Monument Realty and Real Estate Capital closed on the two parcels of land on which they are developing the project.
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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.
