Somerset Construction Company and OA Partners have revealed plans, and held a groundbreaking today, for the Annapolis Junction Town Center, a comprehensive mixed-use Transit-Oriented Development (TOD) situated in Annapolis Junction (Howard County), Maryland that will feature 100,000 square feet of Class "A" office space, 416 ultra-luxury apartment homes, a 150-room hotel, 17,250 square feet of retail space, and a state-of-the-art MARC Transit station with a 700-space commuter parking garage. Positioned adjacent to the Savage Maryland Rail Commuter (MARC) station, it is adjacent to a new state-of-the-art transit station and commuter parking garage scheduled to open in Fall 2014, with the residential, office, hotel, and retail space opening in 2016. The 19-acre site has been designated a Base Realignment And Closure (BRAC) Zone by the State of Maryland. For additional information, visit www.AnnapolisJunctionTownCenter.com.
Working with Somerset Construction Company and OA Partners as development partners for Annapolis Junction Town Center are Corporate Office Properties Trust (commercial office developer) and Southern Management Corporation (residential and retail developer in conjunction with Somerset Construction). The Whiting-Turner Construction Company will serve as the general contracting company for this $180-million project.
Annapolis Junction Town Center is positioned in the southeastern section of Howard County, and located approximately equidistant from the Washington, D.C. and Baltimore metropolitan marketplaces. The property has frontage along MD Route 32, one of the primary east-west highway connectors in the State of Maryland and is adjacent to the Savage MARC station, which is served by the rail system's "Camden" line. The MARC system operates between Union Station in Washington, D. C., where it offers connections to the Washington Metro subway network, as well as Baltimore's Inner Harbor and Camden Yard area, where it connects to Baltimore's light rail system.
The office component of the TOD will consist of a four-story, Class "A" commercial office building providing 100,000 square feet of space. Designed to satisfy LEED-Silver specifications, the brick and glass project will feature 25,000-square-foot floor plates. The Retail Shops at Annapolis Junction Town Center will consist of 17,250 square feet of space suitable for business and consumer amenities and services, as well as boutiques and fast-casual and sit-down dining options.
The 416 ultra-luxury apartment home component of the TOD was designed in a "Texas Doughnut" configuration, which consists of apartment homes built around a parking garage. This allows a resident to park and live on the same level of the building. Approximately 19 different apartment designs will be available in studio, one-bedroom, and two-bedroom units at varying price points, including homes with dens, lofts, and balconies. The approximate mix of configurations is 45 studio units, 248 one-bedroom units; and 123 two-bedroom units. The first phase will be available for occupancy in the Spring of 2016.
The hospitality element will consist of a yet-to-be-announced hotel with conference and meeting room facilities and 150 hotel rooms. This amenity is expected to become operational in Spring 2016.
The site also includes a new state-of-the-art transit station with a 700-space commuter parking garage, situated adjacent to the Savage MARC station that is under construction.
"Transit-Oriented Developments are rapidly gaining popularity across the country, because they represent an efficient use of real estate resources, in addition to taking advantage of heavy rail transportation amenities prevalent in fast-growing, major metropolitan areas," explained Neil Greenberg, Chief Operating Officer of Somerset Construction Company. "Research shows that young people, in particular, are becoming less reliant on their automobile and prefer compact, all-inclusive communities where they are able to live, work, shop, and get entertained. Annapolis Junction Town Center contains every component that addresses the changing way consumers interact with real estate."
"Generally, in the business of real estate development, the expectations are that private developers and public jurisdictional authorities have dueling goals and objectives," explained Peter Zadoretzky, President, OA Partners. But, in the case of Annapolis Junction Town Center, the opposite is true. The State of Maryland, specifically MDOT and MTA along with Howard County were truly our partners in working through this difficult private/public process and supporting it from beginning to end. Annapolis Junction Town Center, a true transit-oriented development, would not have come to being without the extra efforts, leadership, and cooperation of Howard County, MDOT, and MTA."
Somerset Construction Company, headquartered in Bethesda, Maryland, is a master developer of large mixed-use communities. For more information, visit www.SomersetConstruction.com. OA Partners, based in Annapolis, Maryland, is a diversified real-estate services and investment firm that focuses exclusively on land development. For more information, visit www.OApartners.com.
Corporate Office Properties Trust is an office real-estate investment trust, based in Columbia, Maryland, that focuses primarily on serving the specialized requirements of U.S. Government agencies and defense contractors, most of which are engaged in defense information technology and national security-related activities. For more information, visit www.COPT.com. Southern Management Corporation is the largest privately-owned residential property management company in the Mid-Atlantic region, with more than 74 apartment home communities and more than 24,000 apartment homes. For more information, visit www.SouthernManagement.com.