Washington, D.C., March 22, 2011 – Bringing upscale living to Old Towne Gaithersburg, a new luxury apartment option for Montgomery County residents began construction this week in Gaithersburg. Woodfield Investments, LLC, a privately owned apartment development company with offices in Washington, DC, Raleigh, NC, Charlotte, NC and Charleston, SC, kicked off its $60 million Residences at Hidden Creek project.
"Woodfield Investments is pleased to add a new level of upscale apartment living in Gaithersburg through our most recent apartment development" stated Greg Bonifield of Woodfield Investments. "The Residences at Hidden Creek is the latest project by Woodfield in metro Washington, DC and our first in the vibrant Gaithersburg community. We're looking forward to becoming an even greater community partner in the years to come".
When completed, The Residences at Hidden Creek will contain 300 units on 6.5 acres located at the corner of Girard Street and Goshen Road in Gaithersburg. The project features 4 stories of apartment units completely enclosing an above ground pre-cast concrete parking garage. Residents will enjoy a 6,000 square foot clubhouse and leasing facility, a state-of-the art fitness center, theater and gaming area, resort-style pool and beautifully landscaped courtyards. Unit finishes include stainless steel appliances, granite counter tops and hardwood flooring. The community's prime location offers several mass transit options within walking distance and/or a short ride providing easy access to the entire metro Washington, DC area. Construction will be completed in the fourth quarter of 2012.
"We overlooked no detail in the design and planning of The Residences at Hidden Creek and have brought the best of the luxury apartment industry together to offer the most desirable amenities through this new construction", stated Todd Jacobus of Woodfield Investments. "Woodfield looks forward to delivering what promises to be a focal point and source of pride for this great community".
Construction and permanent financing is provided by the Federal Housing Administration's (FHA) Mortgage Insurance Programs Section 221 (d) (4) program for market rate apartment projects.
The Housing Studio of Charlotte, NC, renowned throughout the Mid-Atlantic and Southeast for its fresh take on multifamily housing, designed The Residences at Hidden Creek. Also contributing to the project are civil engineers Charles P. Johnson & Associates of Silver Spring, MD, landscape architect Lewis Scully Gionet of Vienna, VA and general contractor Clark Builders Group of Arlington, VA. Red Mortgage Capital of Columbus, OH acted as the Multifamily Accelerated Processing (MAP) Lender for the 221 (d) (4) financing.
Since 2005, Woodfield Investments has completed 9 apartment communities totaling 2,475 units in Metro Washington, DC, Raleigh, NC, Charlotte, NC and Charleston, SC. Woodfield currently has one apartment community, the 237-unit Metro 808, under construction in Charlotte, NC. Additional Metro Washington DC properties developed by Woodfield Investments include the mixed-use hi-rise Siena Park located in Arlington, VA. Woodfield plans to break ground this year on three additional apartment communities located in Charleston, SC, Raleigh, NC and metro Washington, DC. For more information on Woodfield's activities at The Residences at Hidden Creek and in other markets, please visit: http://www.woodfieldinvestments.com