Student Housing: The Varsity is under way in College Park

Student Housing: The Varsity is under way in College Park

by Tierney Plumb for Washington Business Journal

An unconventional dorm is rising in College Park, with rooms that include individual washer and dryer units, flat-screen TVs and granite counter tops.

The Varsity, a 901-bed luxury student housing complex, is expected to deliver at the University of Maryland next August. Located next to the campus on Baltimore Avenue, the project will help alleviate the shortage problem of 5,000 beds at the school.

The $70 million complex is one of the biggest new student housing projects in the U.S. and is currently being developed by Potomac Holdings Development and Campus Suites.

The 20,000-square-foot retail section on the ground floor will be anchored by Looney’s Pub. The complex will also include a fitness center, business center and game room for students.

The facility will also have an eco-friendly white roof, energy star products and numerous bike racks. Units feature bed and bath combos for each student, as well as upscale furnishings and modern appliances.

Rent starts at $899 per month, per student, with utilities included.

The project was financed in conjunction with Bank of America, U.S. Bank, and the University of Maryland Foundation.

[bizjournals.com]

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