ROCKVILLE, MD—Construction will begin shortly on The Metropolitan at Rockville Town Center, a 275-unit mid-rise luxury apartment complex. The developers, Kettler and Cornerstone Real Estate Advisers, acting on behalf of an institutional investor, just closed on a land and construction loan with Wells Fargo Bank. A spokesperson for Kettler declined to provide the loan amount.
The Metropolitan at Rockville Town Center will be located at 255 North Washington St., next to Rockville Town Square. The area is home to a number of biotech and software companies and their employees are in the market for quality housing, according to Asheel Shah, president of multifamily development at Kettler.
"We want to be where there is growth and we think the Metropolitan puts us in the middle of the action where demand continues to be robust for quality multi-family housing," he said.
The project team includes R2L Architects and interior designers, Parker Rodriguez, landscape architect, and Macris, Hendricks and Glascock, civil engineers.
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
Already have an account? Sign In Now
© 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.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
