The 901-bed community, located just off campus, will also feature 20,000 square feet of retail.
College Park, Md. — Construction is under way for The Varsity, a new luxury student housing project located just off campus of the University of Maryland in College Park. The project is situated adjacent to campus on Baltimore Avenue. It features 901 beds in a variety of apartment-style floor plans. Units feature upscale amenities such as flat-screen televisions, granite countertops, washers and dryers, and wireless Internet access. Monthly rents start at $899 per student with utilities included.
The property contains a variety of amenities including a fitness center, a business center and a game room. The ground floor of the building will contain 20,000 square feet of retail space, which will be anchored by Looney's Pub. Covered parking will be provided for customers and students. The building will also feature sustainable components such as a reflective roof, Energy Star appliances and bike racks.
Completion for the project is expected by next August. A joint venture between Potomac Holdings Development and Campus Suites is developing The Varsity. Construction financing is being provided by Bank of America, US Bank and the University of Maryland Foundation.