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Old 08-03-2022, 11:18 AM
 
Location: It's in the name!
7,083 posts, read 9,578,183 times
Reputation: 3780

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Quote:
Originally Posted by terp80 View Post
Nice scoop from Christine Zhu of The Diamondback, University of Maryland student paper. Trader Joes opening in Oct 1.

https://twitter.com/christinezhu142/...65762560524295



SCOOP: Trader Joe's is projected to open its first Prince George's County location in College Park on Oct. 1, according to a spokesperson for real estate company Bozzuto. The store will be part of the Aster residential community on Baltimore Avenue.


Speaking of TJ's, WTOP has a short article on The Aster, the apartment complex above the Trader Joes. https://wtop.com/business-finance/20...w-trader-joes/


393 units. One to three bedrooms Pricing ranges from 2,000 to 4,000. Surprised 1 bedrooms can fetch for 2k, can't people find comparable or cheaper prices even in better locations closer to DC? Or IN DC?
Pretty sure 10% to 15% of those prices are the TJs and WF affect. TBH, I would pay a little extra to have a grocery store in my building. And then WF is within walking distance? You also have a bank, nail salon, urgent care, and dining options and all you have to do is go downstairs. You can't beat that convenience. Metro is nearby, but not too far. Purple line will be closer.

It will be interesting to see the vacancy rates come this fall.

Last edited by adelphi_sky; 08-03-2022 at 11:27 AM..
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Old 08-03-2022, 11:36 AM
 
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I don't know if this is a great gauge, but Aster website shows 74 floor plans available. I see move in dates look to be around August 15th.



https://www.astercollegepark.com/flo...date&order=ASC


For the other new housing (student), The Nine At College Park says they have wait list spots available, so this must mean they are fully booked? https://www.instagram.com/the9collegepark/?hl=en


Tempo College Park may be having tougher time, its bio says limited availability so it looks like they have no wait list. Tempo and the Nine are both brand new, so I don't know if Tempo has worse location, or more expensive, or what, for them to still have spots while The Nine doesn't. https://www.instagram.com/tempocollegepark/?hl=en


Shows there is still strong demand for off campus student housing, even if its expensive. But do all these new units drop the price elsewhere, or demand just too strong to do that?
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Old 08-03-2022, 11:45 AM
 
Location: It's in the name!
7,083 posts, read 9,578,183 times
Reputation: 3780
Quote:
Originally Posted by terp80 View Post
I don't know if this is a great gauge, but Aster website shows 74 floor plans available. I see move in dates look to be around August 15th.



https://www.astercollegepark.com/flo...date&order=ASC


For the other new housing (student), The Nine At College Park says they have wait list spots available, so this must mean they are fully booked? https://www.instagram.com/the9collegepark/?hl=en


Tempo College Park may be having tougher time, its bio says limited availability so it looks like they have no wait list. https://www.instagram.com/tempocollegepark/?hl=en


Shows there is still strong demand for off campus student housing, even if its expensive. But do all these new units drop the price elsewhere, or demand just too strong to do that?
I don't want to compare them to student-housing vacancy rates. I can't see many students renting one of these if they can't find student housing. I don't think one affects the other. Unless you have some very wealthy students that don't mind the $2000 rent.

I believe these are the highest rents on RT.1 if I'm not mistaken? Hyattsville Arts district might be the same or a little higher?

If they have less than 10% vacancies by January I think that's pretty good. Especially with the new non-student apartments in Riverdale Park Station.
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Old 08-03-2022, 11:52 AM
 
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Didn't mean to compare them just was interested myself after you brought up vacancy rate, for how the other new buildings were doing, but I understand it is completely different market going for students. Just presenting info, or if I was meaning to compare anything, it was just Tempo vs. The Nine
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Old 08-03-2022, 12:17 PM
 
Location: It's in the name!
7,083 posts, read 9,578,183 times
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Quote:
Originally Posted by terp80 View Post
Didn't mean to compare them just was interested myself after you brought up vacancy rate, for how the other new buildings were doing, but I understand it is completely different market going for students. Just presenting info, or if I was meaning to compare anything, it was just Tempo vs. The Nine
As far as the properties you mentioned, I'd call the leasing office for the most up-to-date numbers. Sometimes updates to social media can be a bit lacking. Also, I don't know if there will be a scramble closer to move-in time. Leases can be signed AT move-in time. A better time to gauge would be after the semester has started.

I thought we had a glut of new student housing about two developments ago. But apparently, there is still demand. I think now the shift may be toward grad-students for any newer developments. I do agree that as vacancy rates rise, prices may stabilize and/or move down.

One grad-student focused development got terminated because of the protest about tearing down the forest on near the Business School.

The other is EcoGrads next to the Cambria Suites hotel.
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Old 08-06-2022, 07:17 PM
 
Location: College Park
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New restaurant coming to the former Old Maryland Grill location in the Univ. of MD Hotel. GrillMarx Steakhouse and Raw Bar, with locations in Olney, Columbia and Clarksburg will be opening in College Park. It appears to have prices slightly lower than Burton's.

Last edited by Catcprtc; 08-06-2022 at 08:34 PM.. Reason: Correction
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Old 08-06-2022, 07:32 PM
 
Location: It's in the name!
7,083 posts, read 9,578,183 times
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Quote:
Originally Posted by Catcprtc View Post
New restaurant coming to the former Old Maryland Grill location in the Univ. of MD Hotel. GrillMarx Steakhouse and Raw Bar, with locations in Olney, Columbia and Burtonsville will be opening in College Park. It appears to have prices slightly lower than Burton's.
I'll take it. It's not Ruth's Chris. But at least it's not Outback or Texas Roadhouse. A solid date night place. Good win for College Park. Good reviews on yelp (Columbia location)
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Old 08-07-2022, 03:56 PM
 
220 posts, read 184,628 times
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Quote:
Originally Posted by Catcprtc View Post
New restaurant coming to the former Old Maryland Grill location in the Univ. of MD Hotel. GrillMarx Steakhouse and Raw Bar, with locations in Olney, Columbia and Clarksburg will be opening in College Park. It appears to have prices slightly lower than Burton's.

Any estimate of opening? Since its a pretty new/modern building and the prior tenants have been restaurants, unless they are doing a ton of interior design changes, you'd think it could be open relatively early?

Its too bad this couldn't be done soon enough to where they could be open for move in week, I'm sure a nice sit down restaurant would be good for parents dropping their kids off at college for the first time.
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Old 08-10-2022, 02:22 PM
 
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Article on public-private partnerships (P3s) in Maryland. Article mostly centered on College Park https://www.naiopmd.org/news/combini...TmLSyRLAfImdyo
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Old 08-11-2022, 07:11 AM
 
Location: It's in the name!
7,083 posts, read 9,578,183 times
Reputation: 3780
Quote:
Originally Posted by terp80 View Post
Any estimate of opening? Since its a pretty new/modern building and the prior tenants have been restaurants, unless they are doing a ton of interior design changes, you'd think it could be open relatively early?

Its too bad this couldn't be done soon enough to where they could be open for move in week, I'm sure a nice sit down restaurant would be good for parents dropping their kids off at college for the first time.
OMG had good bones already. I'm sure the mural will stay. And yes, since it is a fairly new building, a lot of the equipment should be ready to use.

I'd think they could open before the holidays. That's assuming all the permits are ready by then I guess.
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