Search
 

WPC Enters Multifamily With $93M Project

SILVER SPRING, MD-The company already owns office and retail properties in the Downtown submarket that it anticipates leveraging when the next wave of development begins.

By Erika Morphy | Updated on September 04, 2007

(Read more on the multifamily market.)

SILVER SPRING, MD-Washington Property Co. is adding multifamily development to its roster of construction expertise–and it will be doing so in the burgeoning Silver Spring submarket. The company has assembled three parcels of land, located at 1050 Ripley St. that it anticipates developing into a $93-million luxury apartment building next year.

Currently the company is putting together a detailed site plan for approval, Charles K. Nulsen III, president of Washington Property and former chair of the Downtown Silver Spring Alliance, tells GlobeSt.com. Construction is expected to begin in Q3 2008 with delivery scheduled for Q3 of 2010. The 306,000-sf, 16-story building will have 305 units ranging from studios to one and two bedrooms. There will also be three-and-a-half levels of below grade parking and a brick and precast exterior. WDG Architecture is the designer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.