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Transit-Oriented Terano Celebrates Grand Opening
September 30, 2015
The Terano, a rental apartment community developed adjacent to a light-rail public-transit station in Rockville, Md., celebrated its grand opening today with a traditional ribbon-cutting ceremony.
The pedestrian-friendly, transit-oriented development was built by The JBG Companies in partnership with MacFarlane Partners on a site that included part of a surface parking lot for the neighboring Twinbrook Metro Station. It consists of a five-story building with 214 market-rate and affordable rental apartments, along with 17,200 square feet of ground-floor retail space, that is operated on a long-term ground lease from the Washington Metropolitan Area Transit Authority.
The Terano serves as the second phase of Twinbrook Station, a major redevelopment effort that is transforming 26 acres of commuter parking lots and adjacent property into a vibrant mixed-use community surrounding the Metro transit station, which provides commuters with light-rail access to points throughout the Washington, D.C., metropolitan area. It is located directly across the street from Twinbrook Station’s first phase, The Alaire, a rental apartment community completed in 2010.
The Terano offers a wide assortment of floorplans, from one-bedroom to two-bedroom with a den, that include kitchen islands, granite counters, plank flooring, and airy nine-foot ceilings. Bringing downtown flair to Rockville are eight urban-style, two-level lofts with unique finishes including interior brick feature walls, exposed ductwork, 20-foot ceilings and private street entrances.
Rounding out the property are resort-quality amenities including a courtyard with swimming pool, outdoor kitchen, grilling stations and sundeck with a fireplace. Residents have access to the fully equipped KICK Fitness center with personal training available and a yoga studio with classes offered. A game room includes pub games such as shuffleboard, billiards and a poker table.
The property also has an onsite bike maintenance center for residents as well as bike storage to help promote the cycling culture in the Twinbrook neighborhood. It is pet friendly, featuring both a dog park and an indoor pet spa with a doggie treadmill.
The Terano is part of a multi-site portfolio of operating properties and development projects located in the Washington, D.C., metropolitan area that is jointly owned by MacFarlane Partners and The JBG Companies, one of the region’s leading real estate operating and development companies.
MacFarlane Partners made the investment on behalf of MacFarlane Urban Real Estate Fund II, its institutional real estate fund that invests in development, redevelopment and repositioning projects in urban and high-density suburban areas nationwide.
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