Wood Partners to Break Ground on New 340-Unit Community in Maryland
LAUREL, MD – Wood Partners, a leader in real estate development and acquisition, has announced that they will break ground this month on a new 340-unit apartment community in Laurel, Maryland. The project will be located on 5.24 acres adjacent to the Towne Centre at Laurel, a new mixed-use destination offering a variety of retail and entertainment venues.
“The shopping district’s various retail, restaurant and entertainment options, combined with our welcoming units and expansive amenities, will offer residents a high quality of life in close proximity to downtown Washington and Baltimore, making it an optimal location for young professionals and families alike.”
“We look forward to contributing to the vibrant Towne Centre at Laurel through Wood Partners’ distinct and modern approach to apartment communities,” said Scott M. Zimmerly, director of the Mid-Atlantic Region for Wood Partners. “The shopping district’s various retail, restaurant and entertainment options, combined with our welcoming units and expansive amenities, will offer residents a high quality of life in close proximity to downtown Washington and Baltimore, making it an optimal location for young professionals and families alike.”
Designed by JDavis Architects, the new community will include a 640,000-square-foot, four-story building wrapping a 555-space parking garage. The units will boast modern features and finishes, including quartz countertops, stainless steel appliances, tile backsplashes, oversize tubs, vinyl plank flooring, upgraded lighting and hardware packages, and full-size washers and dryers.
Planned community amenities range from several lounge spaces, a game room, and a café, to a business center and state-of-the-art fitness facility with a yoga studio. Residents will also enjoy additional storage space, bicycle storage and a pet spa. Three enclosed courtyards will create distinct outdoor spaces, and a relaxing pool and sundeck, multiple grilling areas, outdoor fireplaces and a bocce court will offer ample room for outdoor entertaining.
The Towne Centre at Laurel is home to nearly 400,000 square feet of shops, dining and entertainment options. Among the national and local retailers and restaurants at the center are Harris Teeter, Sports Authority, Regal Cinemas, Old Navy, B.J.’s Restaurant & Brewhouse, Outback, Mission BBQ and Panera Bread. Adding to the development’s ideal location, Granville Gude Park and Lakehouse is located directly across the street and features a 29-acre park, two lakes, picnic pavilions, a boat dock with paddle boat rentals, play areas and 1.25 miles of trails.
The property was sold by Greenberg Gibbons and brokered by CBRE. Wood Partners will be the general contractor on the project. Leasing is anticipated to begin in early 2017, with construction scheduled for completion by the summer of 2017.