Daiwa House Industry Co., Ltd., based in Osaka, Japan, is pleased to announce the start of construction on the St. Elmo Project from March 7, 2022. This will be a rental housing development 22 stories above ground and four stories below ground, consisting of a total of 276 units, located in Bethesda, Maryland, the United States of America (hereinafter "the U.S."). Image of the Exterior of the St. Elmo Project: https://kyodonewsprwire.jp/prwfile/release/M000427/202203108509/_prw_PI1fl_Q81gTT36.jpg Daiwa House Industry Co., Ltd. is taking part in the St. Elmo Project through its U.S. subsidiary, Daiwa House Texas Inc. (hereinafter "Daiwa House Texas"). Daiwa House Texas, together with Duball, LLC, based in Rockville, Maryland and involved in the housing development business in the U.S., and The Lenkin Company, based in Washington, D.C. and involved in the housing development and property management businesses, established St. Elmo Apartments, LLC, a special purpose company which will be developing the project. The rental housing development project, located in downtown Bethesda, includes over 5,000 square feet of street-level commercial space. The project will have a site area of approximately 46,000 ft2 and a gross floor area of approximately 326,000 ft2. Completion is scheduled for November 2024. Features 1. 22-story rental housing project with a total of 276 units 2. A project located in Bethesda, Maryland -- a community undergoing remarkable population growth 3. Great location with amenities for daily life found within walking distance For more information, please visit: https://kyodonewsprwire.jp/attach/202203108509-O1-1ICPF6lZ.pdf Source: Daiwa House Industry Co., Ltd.