Tuesday, June 12, 2007

Portico a Go?


When we last left off on our saga of the Portico condominium in Silver Spring at 1203 Fidler Lane (next to Cubano’s and its tasty offerings, and just a quick walk to the Metro), it appeared the project was moribund, if not outright dead. The Patriot Group’s projected 12-story, 158-unit condominium with 89 parking spaces (original rendering pictured) was initially delayed in 2005 when the neighboring Cameron Hills townhouse development complained about the insufficient parking and density for the project, and soon after the Patriot Group abandoned the project, selling it to Centex Homes, which has been mum on its plans for the project since that time. However, there now appears to be serious activity on the site, with a massive shovel arriving on the lot last week, and excavation now in full swing this week, indicating that Centex (if not another group or even Patriot Group itself) might in fact be moving forward with this project, though whether in its original configuration or a new direction is unknown at this time. We are poking around to uncover more details, and will be sure to update this post as soon as we learn new information.
Update: It's indeed Patriot Group that has retained this project and is moving forward with developing Portico.

2 comments:

warharwk21 said...

According to the most recent issue of the Montgomery County real estate newsletter, it is the Patriot Group who is breaking the ground. A lengthy lawsuit has been resolved and while they do mention that the property was under contract to Centex at one point they do not say if that is what the lawsuit was about or how it was resolved.

Nick on Jun 13, 2007, 10:46:00 AM said...

Interesting ... I was also getting clues that Patriot was back in the mix ... will hopefully have an update today - thanks!

 

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