U3 Advisors establishes Terrapin Development Company at the University of Maryland
On behalf of the University of Maryland and University of Maryland College Park Foundation, U3 Advisors led the creation of the Terrapin Development Company (TDC), in an effort to transform College Park into a dynamic University District – that includes vibrant downtown amenities and a hub for public-private research and innovation. TDC’s contributions from UMD and the Foundation include the newly developed and opened University of Maryland Hotel and Conference Center and MilkBoy Arthouse – a restaurant and music venue.
The creation of TDC has been many years in the making. Beyond structuring the initial transactions that set the stage for the formation of TDC, U3 Advisors worked closely with leadership from both the University and Foundation to set up and launch the organization, ensuring that interests from both founding members are met. Today, U3 Advisors works in partnership with TDC President, Ken Ulman, and his team to staff the organization on core activities including real estate strategy, acquisition, development, placemaking, and local economic vitality.
TDC President Ken Ulman commented that “the buzz and excitement surrounding the transformation of College Park continues to grow each day, and we are proud to be on the ground executing a vision that is not only aligned with the mission of The University of Maryland, College Park, but positions the Greater College Park area as a great place to live, work and play. We look forward to the continued progress with our partners at U3 Advisors.”
Learn more about U3 Advisors’ engagement with the University of Maryland, College park here.