FREDERICK, MD - Wood Partners, L.L.C. has broken ground on The Park at Walnut Ridge Apartments, the newest apartment community in Frederick, Md. Wood Partners, the nation's most active multifamily developer, will construct the project, which is being developed by Security Development Corporation, based in Ellicott City, Md.
The Park at Walnut Ridge, at 2001 Wood Hollow Pl., is adjacent to a linear greenway park, is the sixth and final phase of the Walnut Ridge Planned Neighborhood Development in northwest Frederick, which also includes single-family detached homes and townhomes. The Walnut Ridge site was originally part of the Free family farm.
The project is being constructed on an 11-acre site within minutes of historic downtown Frederick, which has more than 2,500 historic properties and has been named a Great American Main Street by the National Trust for Historic Preservation.
"We are excited about the construction award of The Park and look forward to working again with Security Development Corporation in the Maryland market," said Karen Batten-Balas, Wood Partners Construction Vice President.
The project is the second joint venture for Wood Partners and Security Development Corporation. The companies also built Alta at Regency Crest, an active adult development in Ellicott City, Md.
The Park at Walnut Ridge encompasses 204 units of one-, two- and three-bedroom floor plans. The community will be open for leasing and occupancy in late fall 2012, with construction completed in spring of 2013. Units will range from 807 to 1175 square feet and all will have patios and interior corridors. Six of the seven buildings will be served by an elevator.
Featured elements of The Park at Walnut Ridge, which will feature an abundance of open space, include a clubhouse, resort-style swimming pool, two gazebos, and access to the linear greenway park. The clubhouse will house a state-of-the-art fitness center, Cyber Cafe, flat screen televisions and a common area for community events.
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. In 2011, it was ranked the nation's No. 1 multifamily developer with 3,750 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 40,000 homes with a combined value of more than $5.5 billion nationwide. Wood Partners has offices in 15 major markets nationwide including Atlanta, Baltimore, Boca Raton, Boston, Charlotte, Dallas, Denver, Houston, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, Washington, D.C.