100+ Units Approved

Development Opportunity:

  • Size: 0.52 acres
  • Units: 123
  • Status: Approved
  • Use: Multifamily (Affordable Elderly) Housing
  • Qualified Opportunity Zone (QOZ)
  • Qualified Census Tract (QCT)
  • For: SALE or JV
  • Price: $3,000,000

About This Property

BridgeWater Real Estate Brokerage is pleased to exclusively present the rare opportunity to quickly build a 123-unit community near the University of Maryland.

The property, also known as EcoGrads, is 0.52 acres of vacant land fully entitled to develop 123 residential units on a corner lot on Route 1 in the heart of College Park. Investment highlights include: 

▪ Fully entitled
▪ Multiple tax incentives including Qualified Opportunity  Zone (QOZ) and Qualified Census Tract (QCT) 
▪ Corner lot offers frontage on two roads
▪ Within a half mile from Campus and one block from LIDL
▪ Market demand for studios, affordable and elderly units
▪ Developing housing for the elderly may allow for;
 ➢ an exemption from County school impact fees and
 ➢ a reduced parking requirement