NORFOLK, VA (August 2016) – S. L. Nusbaum Realty Co. is pleased to announce the ground-breaking of The Fred, a 240 apartment unit community located in Frederick, Maryland in the Waverley View Planned Neighborhood Development (PND). Thomas Johnson, III and Richard Counselman led the Development Team on this venture.
Located less than an hour from Washington, D.C. and Baltimore, MD, Frederick is the second largest city in Maryland with 65,000 residents and is part of the Northern VA/DC Metro-MSA. This is the first multifamily development in Maryland for the Norfolk, VA based firm.
S.L. Nusbaum Realty Co. partnered with the Maryland Community Development Administration (a division of DHCD), AGM Financial Services, Inc., Wells Fargo Bank, N.A. and Boston Financial Investment Management to secure financing on the project. The total investment in this development is approximately $50 million.
The property was designed by TS3 Architects and is currently under construction, with Morgan-Keller Construction Company, the General Contractor. The development is expected to be completed by early to mid-2018, with apartment units ready for occupancy prior to that time.
With over 115 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides sales and leasing services for shopping centers, apartment communities, office, industrial and investment properties throughout the Mid-Atlantic and Southeast.