College Park, Maryland (March 22,2021) –Terrapin Development Company (TDC), in partnership with the University of Maryland College Park,has entered into an exclusive development agreement with Brandywine Realty Trust (NYSE: BDN) to develop a world-class, mixed-use neighborhood spanning five acres within the University of Maryland’s Discovery District.
The Discovery District is the epicenter of academic, research and economic catalysts in Greater College Park. The $300+ million development project will feature 550,000 square feet of class-A innovative workspaces encompassing research, office, collaboration and retail space, plus 200-250 multifamily residential units. With seamless connections to mass transit and major roadways, and the University’s talent base, this project is designed to accelerate ventures of all kinds—from startups to Fortune 500 Company headquarters—and will serve as a natural extension of the University’s renowned research enterprise.
“This development will be transformational for the city, county and state. This new project within our Discovery District will continue to grow the University of Maryland’s position as an economic driver by bringing in thousands of additional jobs to our community, as well as creating a dynamic, place based development to serve as a gathering spot for the local community,” said Ken Ulman, President of Terrapin Development Company.
Darryll J. Pines, President of the University of Maryland continued, “The announcement of TDC’s new partnership with Brandywine ushers in the next phase of development projects that further enhance our dynamic campus community. Together, we will grow our ecosystem for innovation and technology that creates a lasting impact for the university’s students, faculty, staff and neighbors,”
The new Discovery District project’s elevated level of design and placemaking was imagined by acclaimed architects at Baltimore-based Ayers Saint Gross and Michael Vergason Landscape Architects. The master-planned district will deliver a cinematic human-centric experience, establishing excellent pedestrian movement along the Baltimore Avenue corridor and campus. The created physical space will link university researchers, students and staff with private sector companies and laboratories, the project will accelerate the University’s research and discovery enterprise, providing an additional catalyst as an economic engine for the state and region. The project is adjacent to the new Purple Line, offering easy connections to the Washington DC Metro system, and has set forth many sustainability goals, including LEED classification, to responsibly develop the land. The master plan will be executed over 4 phases.
“We are delighted to partner with Terrapin Development Company to create a neighborhood of vibrant spaces. The Discovery District will deliver an unmatched convergence of talent, transit, and amplify the visionary spirit that will be the foundation for a world-class innovation ecosystem. Once complete, this project will deliver durable value to the university, business and entrepreneurial stakeholders and the region,” said Jerry Sweeney, President & CEO of Brandywine Realty Trust.
Brandywine is prioritizing a public space and placemaking strategy to serve as a tactile backdrop for the collaboration and creativity of the district. Creatively designed public spaces will further provide the fabric to knit together the elements that will define an active, engaged, and quality addition to this outstanding campus environment.
For additional details or to learn about leasing opportunities, visit https://www.brandywinerealty.com/discovery-district.