ROSS Companies Adds Towson Woods Apartments to Its Portfolio
July 12, 2016
ROSS to continue renovation of 168-unit community, install state-of-the-art amenity package
TOWSON, Md., May 17, 2016 – ROSS Companies, a leader in multifamily property management, acquisition and renovation in the Mid-Atlantic region, today announced that it has assumed property management of Towson Woods on behalf of a recent purchaser. Towson Woods is a commuter-friendly apartment community with a prime location 13 miles north of downtown Baltimore.
ROSS will continue a renovation plan already underway at the community, which features 168 apartment homes, with a revised scope to incorporate a more contemporary feel. Outside of the apartment homes, ROSS will install state-of-the art amenities, including a fitness center and e-lounge, update the pool and pool-house, cure all deferred maintenance and improve the curb appeal. In addition, ROSS will implement a more consumer-centric strategy, revamping the community’s digital marketing efforts to bring Towson Woods on par with the demand for quality apartment housing in Baltimore County.
“In a neighborhood that offers everything today’s apartment residents want near their community, Towson Woods has characteristically boasted high occupancy rates,” said Dave Miskovich, chief operating officer for ROSS. “Towson is home to a number of local colleges, hospitals and a variety of business hubs, offering residents a full suite of work, entertainment and dining options. We believe our upgrades will significantly increase the value of the community and make Towson Woods one of the most sought-after communities in the area.”
Situated at 5 Stonewain Court, Towson Woods benefits from a centralized location near Towson University, GBMC Medical Center and Towson Town Center, home to more than one million square feet of retail space. Towson Row, a $300 million redevelopment project underway, will further increase value to the area, along with the nearby Kenilworth Mall, which is set to undergo a $20 million renovation. Towson also is home to the world headquarters of Stanley Black & Decker, Inc., a Fortune 500 manufacturer of industrial tools and household hardware.
The community sits within minutes of the Baltimore Beltway, which provides expedient access to tens of thousands of professional jobs across the metropolitan area and the city’s wide variety of entertainment, dining, retail and nightlife destinations. Towson University is less than two miles from the community and features an enrollment of 23,000, a nine-percent increase from 2008. The student population, which benefits from an onsite university shuttle stop at Towson Woods, has helped the community maintain a 96-percent enrollment rate over the past three years. Goucher College, with a population of about 1,500, is within a mile.
ROSS plans significant upgrades to the community, which consists of 1-, 2- and 3-bedroom apartment homes ranging from 660 to 1,250 square feet. The pet-friendly community features a resort-inspired swimming pool and sundeck, private balconies, sizable walk-in closets and washer and dryer units in select homes.
About ROSS Companies
ROSS Companies, founded in 1983 in Bethesda, Md., is a recognized leader in multi-family acquisitions and investment, development, property management and renovation. With a managed portfolio of more than 11,000 apartment homes in 32 communities, the privately held company is one of the most active multifamily real estate firms in the Mid-Atlantic region. ROSS Companies is comprised of three affiliates – ROSS Development & Investment, ROSS Management Services and ROSS Renovation & Construction. In 2015, ROSS Development & Investment is celebrating its 31st anniversary and ROSS Management Services is celebrating 26 years in business. In March, ROSS Management Services was honored for the second straight year with a National Resident Satisfaction Award from SatisFacts. In 2015, 19 ROSS-managed apartment communities were awarded the Apartment Ratings’ 2014 Top Rated Award, reflecting ROSS Companies’ unwavering commitment to customer satisfaction. These annual awards recognize communities with outstanding resident satisfaction ratings as measured on ApartmentRatings.com. For more information about ROSS Companies, visit TheRossCompanies.com.