College Park, Md. — CA will perform day-to-day construction management, leasing and property management, says Washington Business Journal.
College Park, Md. — CA Student Living, an affiliate of CA Ventures, formerly known as Campus Acquisitions, has acquired the Maryland Book Exchange redevelopment site at the University of Maryland's main College Park campus where they are planning to build approximately 283 residential units and up to 14,000 square feet of retail space on the former Maryland Book Exchange site, which sits at the southern Baltimore Avenue entrance to the university, according to the Washington Business Journal. CA Student Living acquired the property from R&J Co., which took the development through College Park's entitlement process and began demolishing the former bookstore in October, the Journal says. R&J will remain part of the development team but CA will assume day-to-day construction management, leasing and property management.
Neighborhood groups had been expressing opposition about the plans for high numbers of college students to move into a high-rise in downtown College Park, across from the university. Following negotiations between the city and R&J, the height of the project was reduced. The 2.71-acre property was purchased in November 2010.