Thursday, December 30, 2010

Archstone Breaks Ground on Gaithersburg Apartments


Development plans approved for the heart of Gaithersburg back in 2008 by the Montgomery County Planning Board are finally coming to fruition as just last week Archstone broke ground on their "Westchester at Olde Towne" project. The mixed-use development will replace several old buildings with a 389-unit (194 one-bedrooms and 195 two-bedrooms), transit-oriented apartment community, rising four stories, spanning 6.49 acres, and featuring 15,000 s.f. of ground-floor, street-front retail. The architectural design is courtesy of the Preston Partnership, and takes its cues from historic Gaithersburg structures like the old Gaithersburg School and the Thomas Cannery building.

Situated just south of the intersection of North Summit and East Diamond Avenue and opposite the Gaithersburg MARC Rail Station, the infill project will not only offer an abundance of new apartments and retail opportunities, but also includes impressive amenities like a "beach-entry lagoon-style pool" and a "re-oxygenating fitness center." Future resident dog and cat owners will be in for a special treat as plans call for an in-house pet salon. The development site will also be spruced up by three internal courtyards, one of which will have open access to the public during the daytime.

“Gaithersburg is located in the center of the Montgomery County Technology Corridor, the heart of biotechnology research in the United States,” said Neil Brown, Archstone’s chief development officer, in a press release. "We are excited to begin construction on another landmark project that we believe will create significant long-term value for the City of Gaithersburg, for our future residents and for our shareholders," he added. The commencement of construction was largely made possible by a recently finalized $89.9 million FHA insured Section 221(d)4 loan through CWCapital.

Gaithersburg, MD Real Estate Development News

8 comments:

Anonymous said...

Very nice! Love that they are trying to build on what's lovable and identifiable with Gaithersburg, even though the proportions look a tad cartoonish. The retail sketches also look like they're going to the heart of things, ie: good design

Aiden said...

I think it looks more interesting than your standard boring architecture I see around DC. My first reaction was that I liked the proportions, and nobody gets proportions right anymore.

Anonymous said...

Please note that land use and planning approval for this and other projects in the City of Gaithersburg is under the purview of the city's Mayor & Council and Planning Commission NOT the MoCo Planning Board.

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