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Bozzuto Lands $61M For New Apartment Complex Near Annapolis

November 7, 2017

Bozzuto will soon add another piece to its sprawling Waugh Chapel development community in Anne Arundel County. The Maryland-based, award-winning real estate company secured a $61M loan from the Department of Housing and Urban Development to build The Monarch at Waugh Chapel, a four-story, 246-unit, Class-A multifamily building in the unincorporated Baltimore suburb of Gambrills. Bozzuto subsidiary Bozzuto Development and Reliable Contracting are co-developing the project. The apartments will be divided into two wings surrounding a 7,282 SF clubhouse containing the leasing office, a fitness center, a yoga studio, a lounge, a business center and a billiards room. Outside the clubhouse will be an in-ground outdoor pool, a courtyard and cooking stations. Whether the Monarch will come with the Hub by Amazon automated package storage service was unknown at press time.

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