(To read more on the multifamily market, click here.)

COLLEGE PARK, MD-The class A University View Apartments, privately funded and developed by Otis Warren & Co. and SJM Partners, has made its debut. It was the first endeavor to be approved as part of the Prince George's County Sector Plan, which called for the adjustment of zoning laws to accommodate the conversion of Route 1 into a "main street" style entrance for the city. Clark Construction was also involved in the $120-million project.Meridian Capital Group orchestrated a $58-million financing package in the form of a fixed-rate loan for construction of the student tower.

Situated at 8301 Baltimore Ave., University Park features 1,056 beds spread out over approximately 350 apartment suites available for lease to nearby UMD students and the public. The residences are 100% spoken for, predominantly by students, for the time being. The property also features 150,000 sf of office space, as well as 5,000 sf of ground level retail offerings. Additionally, there is above-ground parking space to accommodate 750 vehicles.

Other residential projects are on tap for the area, including the 200-unit luxury Northgate condominium high-rise spearheaded by Mark Vogel Cos. This is being marketed to university faculty and local federal employees.