Working with the University of Maryland, Philadelphia-based developers Campus Apartments and Mosaic Development Partners are underway on a new $148.75 million graduate student residence hall in College Park, Maryland.
The on-campus project broke ground in July and is expected to be complete for the 2026-2027 school year. It will be located on the former site of UMD’s Old Leonardtown student community, a 225-bed property built in 1972 and closed in 2020, according to The Diamondback student newspaper.
The new building, designed to meet LEED-Silver standards by San Francisco-based Gensler and Washington, D.C.-based Michael Marshall Design, will measure 323,000 square feet and include 741 new beds across 465 units. Housing options will include fully furnished studios and two- to five-bedroom apartments.
The property will offer a ground-floor conference room, penthouse community lounge and community breakout spaces. Parking and bike storage will also be available. The site is within walking distance of the main campus, as well as a stop for the Purple Line light rail system, which is expected to open in 2027.
The project is the first phase of a planned three-phase development funded through tax-exempt bonds. “This partnership enables the university to address its growing graduate housing demands by leveraging our team’s years of industry expertise and resources,” said Daniel Bernstein, president and CIO at Campus Apartments, in the release.
The University of Maryland enrolled 10,205 graduate students in fall 2023, according to the school website. It currently has one dedicated graduate student housing property near the College Park campus offering a total of 475 units.
Campus Apartments also manages a 232-unit private student housing property, Mazza GrandMarc, near UMD’s College Park campus. It has a total of $2 billion in student assets under management, with 23,000 beds across 16 states.
