First Community in Prince Georges County Designed for NGBS Gold Certification
July 07, 2022
Washington – Perseus TDC and its investment partner Griffin Capital Company, LLC announce the start of construction on Prince George’s County’s first multifamily development designed for National Green Building Standard Gold certification.
Residences at The Six (“The Six”), to be located at 6400 America Blvd. in Hyattsville, Maryland, will include 316 units plus 2,052 square feet of ground-level retail and a 276-vehicle structured parking garage. The Six also has the distinction of achieving all three goals of the Metropolitan Washington Council of Governments, which in combination aim to provide more affordable housing in areas the Council considers “activity centers.” The first delivery is scheduled for Summer 2024.
“We are pleased to introduce Residences at The Six to one of the D.C. region’s most unique neighborhoods,” said Nihar Shah, Vice President of Development at Perseus TDC. “Through close collaboration with our partners, this project advances many of our shared values – most notably, environmental responsibility, housing equity, and preservation of community.”
A highly walkable city only eight Metro stops from Washington, D.C.’s central business district and one mile from the University of Maryland’s main campus, Hyattsville is home to an eclectic, thriving Arts District complete with galleries, parks, nightlife, shopping, breweries and restaurants. The new community’s name, The Six, pays homage to the original neighborhoods of Hyattsville, and indoor/outdoor murals will be commissioned with local artists to honor the area’s authentic artistic influences.
In addition to the use of sustainable materials and building processes, the envisioned Gold-certified building will include all native plants and Energy Star appliances, and a minimum of 5% of parking is allocated to electric vehicle charging stations.
Residents of The Six will enjoy a host of modern amenities, including a state-of-the-art, two-level fitness center and yoga studio; large coworking/WFH areas with connected WiFi; courtyard and rooftop entertaining areas complete with fireplaces and grills; secure bike parking and bike workshop; a dedicated pet spa; refrigerated and monitored package areas; and a top-floor pool that, until this development, was uncommon in the county.
The Six is Griffin Capital’s fourth multifamily collaboration with Transwestern regional offices, with others in Denver, Tempe, Ariz., and Austin, Texas.
“We are extremely excited to continue our partnership with Transwestern as well as bring much needed, environmentally thoughtful housing to the community,” said Eric Kaplan, President of Griffin Capital.
Potomac Investment Properties is co-development partner on the project and has worked with Perseus TDC from the beginning of entitlements and design that started in 2020.
“It is an honor to be involved in a development that celebrates both the individuality of the city of Hyattsville as well as its residents,” said Rich Jordan, Managing Director at Potomac Investment Properties.
The project team includes BTC Design Group, Studios Architecture, Parker Rodriguez, Bohler, and CBG Builders Group as the general contractor. EagleBank serves as the lender.
A rendering of The Six is available for download here.
About Griffin Capital Company
Griffin Capital is a leading alternative investment asset manager headquartered in El Segundo, California. Founded in 1995, Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing approximately $22 billion in assets.1 The Company’s senior executives and employees have co-invested over $300 million in various investment verticals, aligning Griffin Capital’s interest with those of its more than 200,000 investors. The Company leverages the breadth and depth of its cycle tested investment management teams to capitalize on long-term economic trends and secular growth opportunities in the real estate sector through direct investment strategies. Additional information is available at: www.griffincapital.com.
1. Includes estimated total project costs for assets under construction.
About Perseus TDC
Perseus TDC, an affiliate of Transwestern Development Company, invests alongside its financial partners in well-located Washington, D.C., metro area properties, adding value through skilled entitlement planning, design, risk management and operations. The firm draws upon its principals’ expertise in developing office, hospitality, multifamily, retail and mixed-use real estate, refined through decades of experience. Based in Washington, D.C., Perseus TDC wields the capabilities of a national firm with the dexterity of a local developer. Visit perseustdc.com for more information.
About Transwestern Development Company
Transwestern Development Company (TDC®) creates value through the execution of development projects for itself, its partners and valued clients throughout the United States. Part of the Transwestern companies, the diversified business develops logistics, multifamily, office, mixed-use and healthcare properties, with a pipeline of projects in process or completed since 2012 exceeding $7.1 billion.
Media Contacts:
Monica Sparreo
Transwestern
312.881.7059
twmediarelations@transwestern.com
Debi Sambuchi
Griffin Capital Company, LLC
424.321.1383
dsambuchi@griffincapital.com