4700 Berwyn House Road
In the dynamic College Park submarket, a commercial property sat vacant and dilapidated. Keane recognized that the location, just steps from the University of Maryland campus, offered a promising residential opportunity.
The age-old real estate axiom, “every deal is different,” certainly applies to 4700 Berwyn House Road. Before Keane entered the picture, this unattractive commercial space was tucked off a main drag in College Park and facing foreclosure. But Keane saw the potential. We didn’t develop the property, or even own it. Instead, we worked with the owner’s lender and held the contract to purchase, and then sold to developer Wood Partners after we perfected the entitlements.
Today, the property – now called The Alloy – is a beautifully designed 275-unit apartment complex, with 335 parking spaces. It helps to meet the demand for housing that is just steps from the University of Maryland campus. This was an especially gratifying project because it was so atypical. It gave Keane the opportunity to follow through on a vision, one that required significant risk and foresight to successfully bring the development to life.