Back in late October, the Montgomery County Planning Board of the Maryland-National Capital Park and Planning Commission (MC-MNCPPC) heard proposals from three development teams competing to design and build a new mixed-use project on 3.24 acres at the corner of Georgia Avenue and Spring Street, at the northwestern entrance to downtown Silver Spring. This week, the Commission officially announced the winner to be SilverPlace, LLC (comprised of Bozzuto Group, Spaulding & Slye, and Harrison Development).
Phase I will include a mixed-use building on Georgia Avenue that will hold 358 dwelling units (261 for sale, 91 for rent), 30% of which will be affordable. The initial development will also include retail, a specialty grocery store, and over 500 underground parking spaces, as well as a 9-story office tower on Spring Street that will house the Montgomery County Park and Planning Commission (PPC). Overall, there will be 150,000 sf of office space. The project will extend Fenton Street to open it to residential and retail development.
Groundbreaking is likely to be in 2008, with completion in 2010. Silver Spring-based Torti Gallas will provide master planning for the project. The two proposals not selected included one from Silver Place Joint-Venture, LLC (Donohoe Companies, Otis Warren & Company and MCF Investment Company), which proposed three buildings (one residential, one mixed-use with residential, office space, and retail, and the PPC headquarters), and another from PN Hoffman / Stonebridge Associates, which would have built residential and retail on this site, and a new PPC headquarters at a different lot already owned by the team.
Silver Spring, MD real estate development news