Construction Complete on New Apartment Building in Hyattsville
Construction was completed this week on a new apartment building at University Town Center in Hyattsville.
Located at 3300 Toledo Rd., about a 15-minute walk from the Hyattsville Crossing Metro station, The Bellevue will feature 361 apartments, including studios and one- to three-bedroom floorplans.
Amenities include a fitness center, clubroom and co-working space.
Currently posted prices range from $1,820 a month for a 583-square-foot one-bedroom apartment on the first floor to $3,345 a month for a 1,424-square-foot apartment with three bedrooms and two baths on the top floor.
“Hyattsville’s strong demographic and employment trends make it a highly attractive market,” said Asheel Shah, Senior Managing Director and Head of Real Estate Development at EJF Capital LLC, which developed the project.
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I do not see how the younger generation can afford these prices.
I’ve first moved over to this area in 2021 from NE DC, the newest building at the time was Lync at Alterra. In the last two years construction started & finished on 3 new buildings, The 6, The Devon and now the Bellevue.
Glad to see new units going up. But, not a single one of them are dedicated or majority affordable units.
Belcrest Plaza & Plaza Towers are the only complexes over here that offer affordable apartments, though quite dated units.
Why didn’t Hyattsville require at least one of those new apartment buildings to expand the affordable units over here instead of packing this area with “upscale apartments”; all with similar price ranges for their units.
It seems like the managing director could have just as well said that Hyattsville’s strong demographic and employment trends make it a market ripe for exploitation.
@Thomas Sykes one-bed apartments in places like DC and Arlington are already north of $2k per month, so this works for people priced out of those markets without being too far away from everything.
Small note but I’ve done that walk often to the metro. Only if you really dawdle and catch no lights is it a 15 min walk! More like 7-10 if it makes a difference for people considering living there!