Developers CP Capital and The NRP Group have partnered for a new, multifamily development in Silver Spring, Maryland, which will break ground early next year.
“White Oak,” named after its location, will be a 390-unit townhome family development with the building wrapped around a central courtyard.
The development will be part of the White Oak Science Gateway area, and will be near several large employers, including the Food and Drug Administration, the new Adventist White Oak Medical Center, the University of Maryland College Park, Fort Meade, the National Institutes of Health, the Walter Reed National Medical Center and others.
The five-story building will include a private courtyard, sun deck and pool, outdoor cooking and dining areas, work-from-home amenities, a dog park, pet spa and fitness center.
The first units are expected to be delivered in the third quarter of 2024. No rental prices were immediately available.
“We look forward to continuing our partnership with The NRP Group and delivering White Oak in this thriving suburban submarket while creating last value for investors,” said Kristi Nootens, co-head of CP Capital.
The two companies previously partnered on another multifamily development, the Rockwell, in suburban Boston.
