A massive town center development in the works by St. John Properties recently opened its first apartment tower, and nearly 45% of the units are already leased.
The Aspen at Melford Town Center officially opened this week at U.S. Route 50 and state Route 3/301 in Bowie with a ribbon cutting by company founder Edward St. John. The $150 million apartment tower began to welcome tenants earlier this year and so far has leased about 42% of its 388 units, said Neil Greenberg, COO of Bethesda-based Somerset Cos., a partner in the project with Woodlawn-based St. John.
“It’s a real investment and it gives us a huge competitive advantage,” Greenberg said, of the rapidly growing market south of Baltimore. “We have invested in solar and that will give residents great savings on energy costs.”
The project is part of St. John’s emerging Melford Town Center, a 466-acre mixed-use development that will have 1,200 residential units and more than 1 million square feet of commercial space when completed. The center will also hold nearly 484,000 square feet of Class A flex/research and development space and three hotels.
