Working with the community to build a Greater College Park.
Terrapin Development Company (TDC) is a joint venture real estate and economic development entity created by the University of Maryland, College Park and the University of Maryland College Park Foundation. TDC's mission is to create long term value for its members while transforming Greater College Park into a vibrant, diverse and walkable community that attracts the best faculty, staff and students, and galvanizes a culture of research and entrepreneurship.
TDC's primary responsibilities are real estate strategy, acquisition, development, leasing, and management with a particular focus on "placemaking," a people-centered approach to the planning, design and management of public spaces, local economic vitality, and creating the housing options, stores, restaurants and green spaces that will enhance the University's recruitment and retention of the world's best faculty, staff and students.
Through transformative real estate activity that holistically enhances the vision of the Greater College Park initiative, TDC strives to create an equitable, vibrant city built for the community, UMD faculty & students, and a growing entrepreneurial and research hub.
The Hotel UMD
The Hotel at the University of Maryland is the first of many transformational projects of the Greater College Park initiative. The four diamond hotel is owned and operated by Southern Management Company, and is home to 297 guest rooms, 43,000 square feet of conference and meeting room space, and four eateries. The eastern ground floor of The Hotel is home to Diamondback Garage, a collection of collaborative office spaces, including Capital One's Tech Incubator, data management company Immuta, software company Adobe's Research Lab and the Startup UMD Suite, a suite of UMD offices dedicated to fostering innovation and entrepreneurship on campus and in the College Park community.
TDC has partnered with Bozzuto to bring a vibrant mixed-use development to the site of the former Quality Inn and Plato's Diner. The development will contain 393 units of market rate housing with an extensive amenity package, aimed at providing UMD faculty and staff, graduate students and alumni a convenient and desirable place to live. The development will include 70,000 square feet of ground floor retail, as well as public improvements in the form of an extension of Calvert Road.
MilkBoy ArtHouse is a performance venue, restaurant and craft bar where the campus and community can gather, connect, and enjoy visual and performance arts. TDC retains the master lease on the property, and brought in MilkBoy to provide College Park with a space for both visual and performing arts to take place in an upscale environment on the edge of campus. Through a partnership with The Clarice Smith Performing Arts Center, MilkBoy hosts a diverse lineup of performances from UMD students, members of the local community, and internationally touring groups and musicians.
In the News
Greater College Park Initiative
Together, we are building a community here.
One of the key tasks of Terrapin Development Company is to carry out the vision of the Greater College Park initiative. The Greater College Park initiative was launched by University of Maryland President Wallace Loh as an effort to turn College Park into one of the nation's top college towns.
Utilizing the three pronged approach of building dynamic academic spaces, promoting a vibrant downtown community full of amenities and creating a public-private hub for research and innovation, Greater College Park is a place families and individuals of all stages in life can live, work and play. Terrapin Development Company works closely with the University of Maryland and the local community to make this vision a reality.
“Together, we are building a community here,” says UMD President Wallace Loh.
“If we are to recruit and retain the world’s best faculty and staff, we need housing options, stores and restaurants, green spaces. And we need to intrinsically tie together our academics and research with our surrounding communities.”