Upscale Community Debuts Near U of Maryland
Monument Realty developed the property near the campus in College Park, Md.
By Bogdan Odagescu
Washington—Monument Village at College Park, a 235-unit luxury community, made its debut last week with a grand opening ceremony in this Maryland city.
Owned by Monument Realty and managed by Lincoln Property Co., the property broke ground in October 2014. Located at 9122 Baltimore Ave., the community sits between Interstate 495 and the University of Maryland, 30 minutes northeast of downtown Washington, D.C., and one mile south of the Capital Beltway.
Encompassing 114 one-, 119 two- and 2 three-bedroom units, the pet-friendly Monument Village offers 27 different floor plans ranging between 633 and 1,414 square feet. According to Yardi Matrix, monthly rents start at $1,611 and average $1,934.
On-site amenities include a business center, media room, outdoor pool, washer/drier and microwave in all units, bicycle storage, 355-spot subterranean parking garage, clubhouse, fitness center, pet spa and dog run, Zen garden and customizable closet systems. It is a candidate for LEED Silver certification.
Yardi Matrix data shows that Citizens Bank originated a $33.6 million construction loan for the property in 2014.
Image courtesy of Yardi Matrix