LINTHICUM, MD—Trammell Crow Residential has plans to break ground on its first residential development in the Baltimore-Washington Corridor within the next few weeks, with an expected delivery date for the first units in the third quarter of 2016.

The project is the Alexan Concorde Circle, a 310-unit apartment community here that has a total capitalization of $69 million.

Bruce Levin, Andrew McAllister and Caren Garfield of MAC Realty Advisors just placed approximately $22 million in joint venture equity with Eagle Realty. JP Morgan Chase is providing a $41 million construction loan and TRC is putting in about $3 million, Robbie Brooks, managing director at TCR, tells GlobeSt.com.

TCR acquired the land from Home Properties, which had performed the initial entitlement work on the site, Brook says. "We put it under contract late November and have been pushing forward with the building permits for the last four months."

TCR opened a local office in the area last fall as part of its push to reboot operations. It also recently broke ground on a multifamily project in Chapel Hill. Brooks says the company is pursing two additional sites in the DC area and one in Chapel Hill.

The project the company is currently getting off the ground here is located on a 11.4-acre site off of Nursery Road one mile from the Baltimore Washington International Thurgood Marshall Airport.

The transaction follows one of the area's hottest multifamily sales: the trade of Union Wharf in Baltimore for $121.5 million, or $432,384 per unit. The 281-unit apartment building, which was developed last year, is located at 901 S Wolfe St. JP Morgan Asset Management was the buyer.