A lot can change in two years. But since beginning construction in 2007 at 1200 Blair Mill Road in Silver Spring, Perseus Realty, LLC’s plan for the building nearing completion at the site, The Argent, seems to be much the same as it was pre-economic doldrums. Representatives of the developer have told DCmud that the project will “definitively be condos” – a first (and perhaps last) for metro area development in 2009.
The $37 million, JSA Inc.-designed building will boast 96 units - ranging from 600 square foot efficiencies to 1,430 square foot two-bedrooms – on nine stories. Part and parcel with the Argent’s "urban oasis" atmosphere are amenities including art deco flourishes, nine-foot ceilings, an “elegant rooftop patio,” a front desk receptionist and a 4,200 square foot public park on the grounds, featuring landscaping by Mahan Rykiel Associates and a sculpture from local artist Mary Ann E. Mears.
The Argent and its development team are apparently not brushing off the state of the market entirely; initially priced in the $400,000s before construction, Causey says that Perseus is currently reevaluating their asking price for a piece of the development, and "expects [final prices] in three to four weeks."
In the meantime, Clark Construction is working diligently at the site in order to have the building up and running in time for what is sure to be a (not so) brisk summer sales season.
Silver Spring real estate development news