GAITHERSBURG, MD - Hercules Living, a twenty year plus family-owned and operated regional multifamily developer headquartered in Virginia Beach, Virginia, has just completed construction of its newest tax credit apartment community called Crossings at Olde Towne.
The city of Gaithersburg is in the midst of a 25-year revitalization plan, turning Olde Towne into a pedestrian-friendly cultural hub to support a mix of successful businesses and residential communities. Olde Towne is being transformed into a destination area that draws out-of-towners, supports local dining, shopping, entertainment and sports activities.
Hercules Living's contribution of the new 199 unit multifamily complex was five years in the making. The project presented several challenges to the three entities - Hercules Living teamed with their development arm, RST Development, LLC, and construction arm, Triangle Construction, both of Rockville, MD., to tackle the 265,000-square-foot development.
Crossings at Olde Towne was designed specifically for the urban setting of the Olde Towne District. The location presented a challenge for the construction team as it backs directly on one side to an active railroad track. Noise emanating from rail traffic required the design and implementation of a particular sound barrier system to efficiently provide noise reduction. 12" thick advanced absorption materials were used to create top-performance noise reduction along with the use of high-rated STC (Sound Transmission Class) windows to significantly reduce sound.
Through thoughtful design, construction management, and planning, Crossings at Olde Towne qualified and earned the prestigious ENERGY STAR 2.0™ rating. This designation indicates that building was designed and constructed to be at least 15% more energy-efficient than needed to meet code requirements.
"We couldn't be more proud of the work we have accomplished and our contribution to the district with this high performing, multifamily building," said Scott Copeland. "Adding quality, design-forward, affordable energy-efficient housing to the Olde Towne revitalization strengthens the district in attracting vibrant, engaged, community-oriented residents."
Award-winning Hercules Living now owns and manages over 40 properties, including more than 8,000 apartments in seven states. The company's portfolio includes a range of both market-rate and affordable properties completed as new construction, renovation, and adaptive reuse projects.