Portfolio

Terano

Rockville, Maryland


Market: Washington, D.C.

Type: Multifamily

Role: Development Partner

Status: Completed in 2015; Sold in 2017

Apartment mid-rise developed adjacent to a Metro light-rail transit station in Rockville, Md., roughly 10 miles northwest of the District of Columbia.

Property Size

  • 214 rental apartments
  • 17,200 square feet of retail space

Local Population Density  

  • 6,900 people/square mile

Highlights

  • Invested in the development project through a venture with the property’s developer, The JBG Companies.
  • Five-story residential building with ground-floor retail space developed on a site that included part of a surface parking lot for the Twinbrook Metro light-rail transit station, which provides commuters with light-rail access to points throughout the Washington, D.C., metropolitan area.
  • Property serves as the second phase of Twinbrook Station, a major redevelopment effort that will transform 26 acres of commuter parking lots and adjacent property into a vibrant, 2.2.-million-square-foot, mixed-use community surrounding the Twinbrook Metro transit station. Twinbrook Station’s first phase, The Alaire rental apartment community, is directly across the street.
  • In addition to its one- and two-bedroom residences, community amenities include an elevated sundeck with swimming pool, outdoor fireplace and grilling stations; an indoor lounge with a kitchen and bar; on-site retail and dining; and a fitness center staffed with a personal trainer.
  • Thirty-one of the apartments (15% of the total built) are designated as affordable housing for low- and moderate-income residents.
  • Both the Terano and the Alaire are part of a multi-site portfolio of operating properties and planned development projects located in the Washington, D.C., metropolitan area that is jointly owned by MacFarlane Partners and The JBG Companies.

Sustainability

  • Certified as a LEED-Gold building, under the U.S. Green Building Council’s green-building rating system.
  • The entire Twinbrook Station project has been designated a smart growth project by the Washington Smart Growth Alliance and has received the International Charter Award for Excellence from the Congress for New Urbanism.
  • Twinbrook Station also was the first project in the Washington, D.C., metropolitan area to be awarded Stage 2 LEED for Neighborhood Development Gold-level pre-certification under the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system. (Click here to view the USGBC’s project profile of Twinbrook Station.)

Related Websites

 

Walk Score:  61     |    Transit Score:  68     |     Bike Score:  n/a