Thursday, April 26, 2007

Silver Spring’s Studio Plaza Project Downsizes


Last year, developer Michael LLC submitted plans for Studio Plaza, the redevelopment of lots between Thayer and Silver Spring Avenues along Georgia Avenue in the Fenton Village area of the Silver Spring Central Business District now occupied with low-scale commercial buildings and surface parking. Initial plans called for a mixed-use development, with one seven-story building facing Thayer Avenue with 146,000 sf of office space and 20,000 sf of new retail on the ground floor, two 90-foot residential buildings facing Silver Spring Avenue containing 255 units and 7,000 sf of retail, and two small green parks.

But last week, the developer, citing zoning issues with the office space and parks, told the Silver Spring Commercial Economic Development Committee that it plans to drop the office building and all its retail space, plus the two parks, from its proposal, leaving just the two residential towers (pictured), but now with only 165 units instead of 255. No decision has been made yet as to whether these will be condos or rentals, though 15% will be set aside as moderately priced dwelling units. The residential buildings will retain the 7,000 sf of retail. There will also be 186 parking spaces below the residential buildings. The revised proposal is expected to be discussed before the Montgomery County Planning Board on June 7.

4 comments:

Anonymous said...

I like the blog but you need to start providing some links!

Nick on Apr 26, 2007, 6:01:00 PM said...

Thanks for the feedback - are you looking for more links to the projects and developers themselves in the stories? We can try and do a better job on that.

Anonymous said...

yup, both, curbed.com is one of my favorite blogs, but only covers NYC real estate...they have links everywhere

Nick on Apr 27, 2007, 2:13:00 PM said...

Curbed is definitely a great real estate site. One day we hopefully will have more resources and time to devote to the blog (as it is now, it's catch as catch can with our mild-mannered agent alter egos taking up a good chunk of time). But we will work to make the blog better as you suggest - thanks!

 

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