New luxury multifamily development set to bring 254 units to the Maryland suburbs

Glenmont, Md. is about to receive its first new multifamily development in decades. Dubbed Atelier, the development will bring 254 units to a site adjacent to the Glenmont Metro station in the Maryland suburbs of Washington, D.C.

The units will range from studios to two-bedroom units with dens. Kitchens will feature stainless steel appliances, granite countertops, and built-in wine racks while the bathrooms will include glass-enclosed showers and double-sink vanities.

Project amenities include an outdoor swimming pool, a fitness center with a yoga room, a movie/media room, and a rooftop deck with a fire pit and outdoor TV. Residents will be able to make use of billiards, shuffleboard, a poker table, a double-sided fireplace, and a catering kitchen in an exclusive clubroom. Two courtyards will provide grilling stations, lawn games, and an outdoor movie screen. Other amenities include a pet spa and dog park, a business center with a private conference room, a private above-ground garage with parking for 330 cars, and bike lockers and a bike repair station. A rooftop solar panel array will generate most of the electricity for the building’s common areas.

Elion Partners and Buchanan Partners are the developers, Coakley Williams is the general contractor, and Jefferson Apartment Group will handle property management services. The project is estimated to deliver in the third quarter of 2020.

Across the country, multifamily rents have skyrocketed. Year-over-year rents are up by double digits in nine of the top 30 markets, while national YoY rent growth is up 6.3%. Emerging from the pandemic, a perfect storm of migration, enhanced government stimulus and a hot housing market, among other factors, has enabled this extremely strong growth.