Suburban Maryland Community Tops Out
The developers aim for an early 2023 completion.
The project team behind the six-story Fairchild Apartments, a multifamily project in Germantown, Md., has celebrated the development’s topping out. The owner and developer is HIP Projects, Donohoe Construction is the general contractor and KTGY Architects is overseeing design. The project benefited from a $51.5 million construction loan held by Eagle Bank, according to Yardi Matrix data.
Fairchild Apartments will have 212 units and will be located at 20013 Century Blvd. Common-area amenities will include a fitness and yoga center, business center, club room, swimming pool and three levels of parking. Fairchild Apartments broke ground in September 2021 and is expected to come online in the first quarter of 2023.
The multifamily property will be situated between Interstate 270 and BlackRock Center for the Arts, within walking distance of many retail and dining options. It is also 3 miles from Great Seneca Stream Valley Park, 5 miles from Gaithersburg, Md., and less than 27 miles north of Washington, D.C.
The Greater Washington, D.C., area continues to have one of the country’s largest multifamily pipelines, with 36,540 apartments under construction as of March. This places the metro in the fourth spot nationwide, behind only Dallas, Austin, Texas, and Phoenix.