Aventon Companies Breaks Ground on $100+ Million New Luxury Apartments at Crown
New Montgomery County, MD property offers more than 15,000 square feet of amenity space.
Bethesda, MD (January 15, 2020) – Aventon Companies is laying claim to the title for one of the Washington area’s first residential real estate starts of the new decade, breaking ground on a luxury apartment building in Crown, a 182-acre master-planned community in Montgomery County, Maryland. At nearly 400 residences, Aventon Crownwill be a prominent addition to the successful and prestigious Crown residential and retail community which sits squarely in the heart of Montgomery County’s I-270 life sciences and bio-tech corridor.
“We chose this location for its tremendous employment growth, great schools, transportation access and excellent quality of life,” said Mark Coletta, Senior Managing Director for Aventon Companies. “It is perfectly placed near major employers such as Glaxo Smith Kline, Medimmune, Shady Grove Hospital, the National Cancer Institute, NIST and numerous other science, software and federal government agencies.”
Aventon Crown will occupy a prominent perch in the Crown Central neighborhood, at the corner of Decoverly and Fields Road. At a cost of approximately $100 million, the seven-story building includes 386 apartments that will range in size from studios to three-bedroom units, and offer smart home technology, quartz countertops and market-leading finishes. The building will be certified under the National Green Building Standard for sustainability.
Aventon Crown will represent the latest in contemporary living: Residents will enjoy more than 15,000 square feet of amenity space, including co-working lounges with private offices, fitness and yoga studios, gaming and media lounges, a podcast studio, private events space with demonstration kitchen, pet spa, automated package delivery, bike storage and repair shop and covered parking.
Outdoor spaces will include a private, resort-style pool, summer kitchen, sunken fire-pit, and co-working courtyard. Aventon Crown residents can walk to Downtown Crown which features more than 250,000 square feet of dining, grocery, retail and entertainment options. Nearby, Crown Park offers summer concerts and events. Mini parks and sidewalks are numerous, inviting residents outdoors for leisure or exercise. Washingtonian RIO, just across Fields Road, is a popular shopping and entertainment mecca for families and children.
“From dining and entertainment to job centers and schools, we are providing our future Aventon Crown residents with the best the community has to offer, which also includes quick access to I-270 and a free shuttle to the Shady Grove Metro Station,” said Aventon’s Mark Coletta.
Designed by architects SK&I, Coletta said Aventon Crown will have a contemporary architectural style that will respect pedestrian scale, while complementing other neighborhood housing designs. Aventon Crown is expected to open in fall of 2021.
About Aventon Companies
Several former executives of the Bainbridge Companies formed Aventon Companies in 2018. The company is active in the mid-Atlantic region, the Carolinas, Georgia and Florida. The company develops and acquires multifamily communities. It has regional offices in Bethesda, MD, Raleigh, NC, Orlando Fl, and West Palm Beach, Fl. Aventon’s equity partner on the project is Sumitomo Corporation of America. To learn more, visit www.aventoncompanies.com.
About Crown
Crown is a master-planned community located on 182-acres in the heart of Montgomery County, just off Interstate 270 at Sam Eig Highway and the Intercounty Connector. The community broke ground on phase one in 2012 and today the community is thriving with 410 townhomes, 44 single-family homes, 538 apartments, 128 condominiums and 260,000 square feet of retail in the first two neighborhoods, Downtown Crown and Crown West. Crown East broke ground in late 2018 and will include 350 new homes, including condominiums, townhomes and single-family homes will offer additional parks and open space. When complete, the entire Crown community will include up to 2,250 residential units and 320,000 square feet of retail and commercial space. To learn more, visit www.SmartUrbanLiving.com.
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