Upscale D.C.-Area Community Breaks Ground
- Feb 19, 2019
The NRP Group has begun construction on The Axiom at Cabin Branch, a 272-unit property that will be the only rental community within Cabin Branch—a neo-traditional development located at 22551 Cabin Branch Ave. in Clarksburg, Md. At full build-out, Cabin Branch will feature about 1,600 residences, some for sale and some for rent. The for-sale residences are being developed by Winchester Homes, Ryan Homes, and NVHomes.
The Axiom at Cabin Branch is NRP Group’s first project in the D.C. metro area and is being developed in a joint venture with equity partner Parse Capital and with construction financing provided by First National Bank of Pennsylvania.
“NRP has an exceptionally strong reputation in the markets in which they develop and an excellent track-record of executing a great product,” Nicholas Killebrew, Parse’s head of originations, said. “We are eager to watch this development come together and to continue partnering with NRP on future projects.”
Nearby Shopping and Entertainment
Axiom will feature one-, two-, and three-bedroom units, which boast plank flooring, 9-foot ceilings and modern kitchens with quartz countertops and European-style cabinets. Community amenities will include a state-of-the-art fitness center, a resort-style pool and deck, complete with fire pits, grills and big-screen TVs, a dog park, interior bike storage and package reception services.
“We’re thrilled to bring this development to Cabin Branch as our first step into the Washington, D.C. market,” J. David Heller, The NRP Group’s co-founder & CEO, said. “Axiom will offer a unique lifestyle choice for future residents who will be able to enjoy shopping and entertainment options at their fingertips, while in close proximity to the I-270 employment corridor.”
The property is nearby Interstate 270 and the Maryland Route 121 interchange in Montgomery County, roughly 30 miles from Washington, D.C. and just 50 miles outside of Baltimore. Axiom will also be next to Clarksburg Premium Outlets, Simon and New England Development’s recently-opened upscale outlet mall development.
Residents will live close to working farms and orchards, numerous horse and biking trails, and plenty of other outdoor recreation opportunities. The property is also nearby both the 2,000-acre Black Hill Regional Park and 93,000-acre Agricultural Reserve.
Earlier this month, NRP Group sold The Luxx, a 694-bed student housing community in San Antonio, Texas, to a joint venture of The Preiss Co. and a private real estate fund advised by Crow Holdings Capital.
Rendering courtesy of the NRP Group