The Domain in College Park is now completely full. Photo taken before the apartment building’s opening.
The waiting list for newly opened apartment building Domain College Park could be a sign of future prosperity for College Park, officials said.
The Domain reported almost all of its 256 units have been leased this fall, to a mix of university faculty members, students and professionals not affiliated with the university.
“We don’t have any apartments available right now,” said Beede Haile, a “move-in specialist” employed in Domain’s leasing office. “After we filled up, people realized we’re becoming a student town, which some aren’t happy with, but they’re happy with the community and with our service and the fact that there’s more people.”
The fact that Domain, which opened in June 2013, has filled its rooms will look appealing to potential developers, according to Michael Stiefvater, College Park’s economic development coordinator. When constructed, Domain was the first nonstudent apartment complex built in the city since Camden College Park opened on Milestone Way in 2007.
“It shows promise that there is a market here in College Park for market-rate apartments,” College Park District 4 Councilman Alan Hew said. “So that’s great news to hear.”
Hew pointed to the implications for other developments currently in the works, such as the Metropolitan Development Group and Monument Realty projects in progress along Route 1.
Pam Zandy, Monument Realty marketing manager, said the news confirmed what the firm already knew — that there was a demand in College Park for housing for young professionals.
“We think it’s a great sign,” Zandy said of the waiting list. “We think this area’s really underserved as far as housing goes. That’s why we saw the site and were interested in building there — because we thought we could add to the community.”
While Stiefvater said Domain’s closeness to the campus likely drew more student lessees than expected, Haile said most residents are professionals not associated with the university.
“Since we started, we’ve had more professionals than students,” Haile said. “Leases were a little pricey, so only professionals could afford it.”
According to Domain’s website, leases for a one-bedroom apartment start at $1,719 per month and two-bedrooms start at $2,660 per month.
Hew cited close proximity to the university, NASA’s Goddard Space Flight Center and public transportation as some of the draws of College Park apartments.
District 1 Councilman Fazlul Kabir said Domain’s filled apartments have implications for the city.
“It’s a sign of how the market will react, because it’s not possible to know beforehand,” Kabir said.
Constructed by developer The Hanover Company, the mixed-use complex houses more than 9,000 square feet of retail space along Campus Drive, across the street from Lot 1 and Van Munching Hall.
The building’s amenities include a fitness center, pool, private garage, TV lounge and 24-hour concierge.
