New Residential Community to Open in UMD Research Park
Dynamic Mixed-Use Project Next to College Park/UMD Metro Station Part of University of Maryland’s Greater College Park Initiative
COLLEGE PARK, MD – The University of Maryland today announced plans for a 370-unit housing and retail community adjacent to the College Park/UMD Metro and proposed Purple Line stations. The apartments will be located in the university’s Research Park in the new College Park-Riverdale Park Transit District. The University of Maryland Research Park was also named Outstanding Research Park by the Association of University Research Parks at the AURP National Conference today in Buffalo.
The apartment community is designed to appeal to recent graduates and professionals who seek easy access to the 3,000 jobs in the Research Park, public transit and a vibrant college town. It begins to diversify the area’s housing options, which are currently comprised of mostly single-family homes and student housing. This housing and retail project is part of the university’s Greater College Park initiative to enhance the academic campus and the surrounding communities.
“This project moves us toward a more vibrant Greater College Park where work, play, home and transit all connect,” said University of Maryland President Wallace D. Loh. “It offers a mix of amenity-rich apartments, retail and strategic location.”
The development proposal includes 370 apartment units, 5,000 square feet of retail space and 395 parking spaces. The residential units will be located in a five-story structure above a garage. The amenity areas for the apartments are planned to include an integrated clubhouse with boutique hotel feel, large fitness center, great room, cyber café, and a landscaped courtyard with pool and concierge services.
A bridge over the Metro and MARC rail lines will be built to link the Research Park to the adjacent Whole Foods and related development, now under construction in Riverdale Park Station.
The development team, led by Ronald D. Paul, has signed a letter of intent to lease university property located at 4301 River Road. “I am thrilled to be part of helping develop a walkable community to serve the Research Park, university, and larger community,” said Ronald D. Paul, developer.
“We are at the beginning of a vibrant transformation for our community. The Hotel at the University of Maryland, FlexEl Inc. headquarters, and mixed-use housing opportunities are creating a serious buzz. It is an exciting time for College Park, and it’s a great to see so many partners come together who share in the vision of creating a world-class university town,” said Ken Ulman, the university’s top economic development advisor.
Greater College Park ties together the many efforts supporting the university’s goal of becoming a premier college town. It focuses on three inter-related components: 1) Dynamic academic spaces; 2) A vibrant downtown community; and 3) A public-private research hub that brings together businesses and the university’s academic community in the research park and innovation district. The vision for Greater College Park is the result of collaborative partnerships with Prince George’s County, the City of College Park, the University of Maryland College Park Foundation, the College Park City-University Partnership, UMD alumni and local developers.