HYATTSVILLE, MD — EJF Capital has completed construction of The Bellevue, a 361-unit multifamily apartment community located in Hyattsville, Maryland, marking the firm’s fifth delivery under its OpZone Fund II.
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The project reflects EJF Capital’s continued focus on developing institutional-quality housing in high-growth metropolitan markets designated as Qualified Opportunity Zones. The Bellevue was developed in partnership with The NRP Group and is positioned within one of Prince George’s County’s most active residential corridors.
Hyattsville’s sustained housing demand is driven by its proximity to the University of Maryland, access to employment centers throughout the Washington, D.C. metro area, and a growing arts, retail, and dining scene.
The community includes studio, one-, two-, and three-bedroom residences along with a full slate of amenities, including a fitness center, clubroom, co-working lounge, landscaped courtyards, and structured parking.
“We are pleased to bring The Bellevue to completion as we invest in high-quality housing within supply-constrained and growing communities,” said Asheel Shah, Senior Managing Director and Head of Real Estate Development at EJF. “Hyattsville’s strong demographic and employment trends make it a highly attractive market, and The Bellevue reflects our commitment to delivering thoughtfully designed multifamily communities with best-in-class partners.”
The completion of The Bellevue further expands EJF Capital’s national footprint within Qualified Opportunity Zones, where the firm continues to deploy capital into markets positioned for long-term population and employment growth. Located in Prince George’s County, the development benefits from strong regional connectivity and expanding infrastructure that supports commuter access to Washington, D.C.
Developed in collaboration with The NRP Group, The Bellevue is designed to meet the evolving needs of renters seeking modern living environments paired with convenient access to education, employment, and lifestyle amenities. The property’s mix of unit types accommodates a broad demographic range, from young professionals to families.
The amenity package emphasizes both productivity and community, offering co-working spaces alongside fitness and recreational features. Landscaped courtyards and shared indoor spaces were designed to foster resident interaction while enhancing the overall living experience.
The Bellevue represents the fifth completed development within EJF’s OpZone Fund II. Since 2018, the firm has invested in 24 multifamily and commercial projects nationwide, spanning both residential and industrial assets. Five of those developments have now been delivered under the current fund, underscoring EJF’s strategy of executing development projects in markets with durable economic fundamentals.
EJF Capital currently manages approximately $5.6 billion in assets and continues to target high-growth metropolitan areas where housing demand is supported by strong demographics, employment expansion, and limited new supply.
Originally reported by Multifamily Biz.
