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

GAITHERSBURG, MD-Acting on behalf of property owner Asbury Methodist Home Inc., Donohoe Construction Co. restored the original structure and constructed an eight-story addition at Asbury Park View. The move created a new upscale 65-unit independent living apartment complex at the residential facility at 211 Russell Ave.

The site is within the 1.4-million-sf senior residential and healthcare compound Asbury Methodist Village. Located off Interstate 270 near the Gaithersburg Mall, the development occupies a nearly 14-acre parcel near the one-million-sf Lakeforest Mall. Cochran, Stephenson & Donkervoet Inc. served as the architectural firm on the project.

The cost of the redevelopment endeavor, which includes a new three-story parking facility, has not been disclosed; however, Donohoe constructed a two-building 65-unit apartment complex with detached cottages and a fitness center at the Asbury Methodist Village Retirement Community in Solomons Island for $15.2 million.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.