Centex Feeling Confident in Wheaton

Planners have been busy working on all the new developments getting ready to launch near the Wheaton Metro station, but walk a half mile north to the intersection of Georgia Avenue and Arcola Avenue and you'll find a busy construction site. Where eager students once sat glued to their physics texts at Our Lady of Good Counsel High School (since relocated to Olney), bulldozers now rule as townhouses rise to completion. The high school was demolished in 2007, with the Rafferty gymnasium the only original structure remaining. Centex Homes of Dallas, TX began building on the 14-acre site in 2008, and have now completed 85 of the originally proposed 190 homes. But in late July, the Montgomery County Planning Board approved Centex's request to raze the Rafferty Center to make way for an elaborate open field, intended for the "general play" of their new residents. The total approved number homes will now soar from 190 to 194, as Centex proposes to add new townhouses to abut the new parkland. As now planned and approved, the completed Leesborough Townhomes will consist of 143 townhomes, 45 condominiums or "garden units," and six single family homes.

Local residents were holding out hope that the county would maintain the gymnasium as a recreational facility or that Centex would develop the building into a mixed use space involving community amenities and additional office space. But the County announced in June that is was scrapping its plans for renovation of the Rafferty Center, and clearly Centex wants nothing to do with it as well. However, the County does have plans to develop another full service community recreation center on the southwest quadrant of the Georgia Avenue and Randolph Road intersection. The $20 million project will be fully stocked with basketball courts, a state-of-the-art gym and other recreational amenities. But as expected, there will be a significant time lapse separating the leveling of Rafferty and the opening of the new facility; planners can't begin the project for at least another four years, when the Randolph Road site, now serving as staging area for Inter-County Connector highway construction, opens up.

Looks ready for a pick up soccer game.

All in all, this is a positive sign that Centex is confident in demand for more housing. With development plans stalled across the metro area, it remains one of the few active site. It is a welcome reverse from the direction Centex was forced into several years ago, as it pulled the plug on a few large projects scattered about the metro area. The completed townhouses are currently being offered from the upper $300's.

Wheaton Maryland real estate development news

Symphony Park at Strathmore

A new Montgomery County-based development firm plans to bring 112 new brownstone townhouses to the front yard of the $100 million Strathmore Music Center and Mansion. Symphony Park at Strathmore is the first signature project for Streetscape Partners, a two-year-old firm that recently won the right to develop the 18-acre site at the southeast corner of the intersection of Strathmore Avenue and Rockville Pike in North Bethesda thanks to the financial backing of Lubert-Adler Partners, LP. The community will offer new residents access to the Grosvenor-Strathmore Metro and select membership with the Strathmore.

According to Ron Kaplan, Co-managing Principal at Streetscape, the four-story townhouses will each have a deck and most will have a "mews," front green space or garden with an alley in the back for access to the two-car garage. The fourth story of each home is a loft. The project offers "significantly more open space than most of these types of developments" added Kaplan. The developer described the finishes as "real materials" meaning brick and stone and solid wood doors. The design team tried to evoke the appearance of Georgetown, and Boston's back bay, a "sophisticated" community, according to Kaplan.

Not all 18 acres will be developed for housing; the team is donating five acres for use by Montgomery County as an outdoor amphitheater for public performances, linked to Strathmore. Additionally, the plan includes a new "Symphony Park Forest," several acres of "forested land created from scratch" with the planting of 200 some odd trees to line a new walk way between the community and the Arts Center, explained Kaplan.

Kaplan described that site as "one of the best pieces of land for residential development in the whole county (Montgomery)." The land previously belonged to the American Speech Language Hearing Association (ASHA) and had been under contract with residential developer Centex; Streetscape snapped it up when market conditions forced Centex to renege on its contract after several years of pre-development planning. Streetscape inherited the footprint, including the agreed upon number of homes from the original buyer and retained architects, Lessard Group, to rework the design. Though Kaplan assured his designs "increase the quality" changing the previous plans "pretty significantly." According to Kaplan, the team has all of its approvals from the County and expects to begin land development in the fall with the first model units appearing next spring. Sales will also begin this fall.

North Bethesda, Maryland real estate development news

Centex's Symphony in MC

After years of discussion and revision, Centex's Symphony Park project in Montgomery County may have reached its coda. Named for its proximity to the nearby Strathmore Music Center, Symphony Park, which will offer 112 one-family, attached townhouses, will go before the Montgomery County Planning Board tomorrow with recommended approval from the Development Review Division.

The new development will reserve half of its 18.61 acres for open green space, including a pond and overflow space for the music center. Centex received preliminary approval in March of last year, but has since undergone revisions to improve its aesthetic value and pedestrian accessibility.

"It is an intersection of two properties and it's of great interest. It's a high profile property, especially since Montgomery County owns the land next to it. The Strathmore Music Center next door has a festival each year on the land that we would own, so we ended up giving them five acres. It was negotiations like that that took a while. We spent a lot of time figuring out how to make this land work best for the county," said Keith Tunell, Director of Community Development in Maryland for Centex.

The developer does not yet own the land at the intersection of Rockville Pike and Strathmore Avenue, but will purchase it from the American Speech-Language-Hearing Association if the project receives final approval. The site is currently occupied by the ASHA office building that the developer will eventually raze to make room for the new development.

Near both the Grosvenor-Strathmore Metro Station and the Rock Creek Hiker-Biker Trail, the project will offer 373 parking spaces and two types of townhouses, one traditional and the other with internal courtyards. The developer said the project's setting is ideal given its surrounding amenities.

"It is certainly for fans of the arts, it's a very commuter-friendly property. There is the Metro right on the other side, we are also keeping a lot of it green and a park-like setting between us and Strathmore. It's a harmonious connection and great property for quality homes," Tunell said.

Tunell said that if the project is approved, the team will submit a certified site plan in the next few months, raze the building in the winter, and begin construction next summer.

They're back: Centex builds in Wheaton

Centex Homes is building an assortment of townhomes, single-family houses and self-described condominium-townhomes at the former site of Our Lady of Good Counsel High School in Wheaton, MD. The Leesborough Condos and Townhomes will sprout on a site that Centex acquired in late 2006; the Catholic preparatory school vacated in January, 2007. Now Centex, in its closest project to DC since pulling out of a number of DC Metro condo projects about a year ago, is building the American dream Wheaton-style, providing 54 townhouses, 45 condominiums and six single-family units at the intersection of Georgia Avenue and Arcola.

Although the project hasn't begun to materialize yet, pre-construction sales started in December of 2007. According to Centex, people are chomping at the bit for some of the units, specifically the condominiums. Centex's model condo unit starts in the $360's for a two-level, condo-townhouse over a garage with roughly 1,900 s.f. of space, and is best described as a "Stacked townhome" according to Marketing Director Carla Sevilla. Sevilla explained that the stacked townhome provides the density the city requires while offering the owners plenty of square footage in a traditional townhouse feel; "It's a very unique product" Sevilla added. Of the 45 condos planned for the site, about 15 will be set aside as Moderately Priced Dwelling Units (MPDUs).

Centex has used "hybrid-condos" in the past; Brambleton Sky Meadows, Lansdowne Town Center, Buckingham Station and Village Place in Gainesville are all variations of the condo-turned rowhouse, or vice versa. Abnormal or not, sales at Leesborough are strong, according to Centex, with about a dozen sold since December, 2007...so act fast. Centex is not making such claims for sales of their townhomes (pictured below). The 1,950-s.f., two-car garage, brick and Hardy Plank townhomes which start in the $420s are apparently a tougher sell. The final phase, which will add six single-family homes to the site, has not yet begun construction or sales.

Three separate architectural firms contributed to Centex's design. The condominium portion was drafted by Martin Architectural Group, while the townhomes were designed by two firms: Pinnacle Design and Consulting and Philly's Marshall/Sabatini.  Centex expects some of the townhomes will be completed soon, planning to move in any buyers as early as the fall, while the first condos will arrive at the beginning of 2009.

Washington DC retail and real estate news

Portico Condo Springs to Life

With excavation mostly complete, construction is getting ready to begin on the Portico, a new condominium in the center of Silver Spring. The 151-unit building had long been planned for the vacant lot on Fidler Lane, between Cubano's restaurant and McDonald's, but was halted when neighbors in an adjacent new development complained (typical) about the density and parking. The Patriot Group purchased in the land in 2003, anticipating starting prices to be around $200k, but the controversy slowed the project and the developer eventually agreed to sell the pre-construction plans to Centex. Centex in turn pulled the plug on most of its urban projects, including the Portico, as well as Scene (Arlington), 1200 East-West Highway (Silver Spring), Pavilions at Huntington Metro (Alexandria), and Pavilions at Takoma Metro (DC).

The project has been approved by the county and excavation is now underway, the Patriot Group anticipates completion in late 2009. Located just a short walk to the Metro in Silver Spring's central business district, the new condo is being designed by Silver Spring-based AR Meyers & Associates as entirely residential, no retail, which the developer states is prohibited by zoning code.

Silver Spring commercial real estate news

Centex Sells Pavilions at Takoma to New Developer – Project Back On, But As Rentals

Just when you think you’re out, they pull you back in. Yes, real estate and the Godfather have plenty in common, none more so than the more things change, the more they stay the same. Just weeks ago, Cityhomes by Centex Homes announced that it was canceling its Pavilions at Takoma project and not moving forward with this development. But now arrives word that the company actually is in the process of selling the project to another developer, which plans to build it more or less as originally rendered, but then offer the units as mostly rentals rather than condos. The new owner has not yet been identified, though Centex has confirmed the sale. The Pavilions at Takoma originally began condo sales in November, with prices starting in the low $200,000 range for studios in a LEED-registered, four-story building at 7023 Blair Road NW, just one block from the Takoma metro station. Expected rental prices are not yet known at this time for the revived project.

Washington DC commercial real estate news

Centex Development in Falls Church Stalls

A combination of astronomical asking prices for land and recent residential market trends has Centex Homes reconsidering whether to move forward with its planned role in the development of Falls Church’s City Center village project, to be located at the intersection of South and North Washington Streets and W. Broad Street. The City Center project will contain a public town square, along with a hotel, new grocery store, retailers, office space, and a mix of residential options, including up to 1,000 condo units, over the next decade (though this, too, is now uncertain). However, the job of purchasing the needed land for this project has proven problematic, as landowners are asking between $2.5 and $5.7 million an acre on the north side of W. Broad – the location of the first two blocks of the project that Centex (teaming with Federal Realty) is tasked to develop. Given the significant distance to the nearest metro station, Centex is re-evaluating the worth of this project, and is now in discussions with the city and landowners on the next step, if any. Meanwhile, while the north side of W. Broad is up in the air, the south side of this project, which is being developed by Atlantic Realty, appears to be moving forward, as most of this land has already been bought or acquired.

In Potomac Yard, Developers to the Rescue

When city planners for Potomac Yard found that public works projects were needed, they did what city planners across the country are increasingly doing: They turned to the developer to provide city services.

Begun in 1999, the project has gone through several phases including a plan by the late Jack Kent Cooke to build a new stadium for the Washington Redskins; a plan defeated by a coalition of neighborhood groups. The current plan calls for development of 165 acres with 1.9 million square feet of office space, 135,000 square feet of retail space in addition to the 600,000 square feet already in use at the Yard, and 1700 units of housing.

Justin Wilson, former President of the Del Ray Citizens’ Association, is optimistic about the on-going development project at the Potomac Yard.

Wilson was one of many in the Del Ray community who were shocked to learn that there was a plan to relocate the local fire station from Windsor Avenue to the Potomac Yard – and Wilson and the Association insisted on a discussion with both the developers and the City. "The city got caught behind the eight-ball,” said Wilson, “But they’ve caught up with the issues facing the community and the development companies are responding to our needs."

Enter the site’s developers, Pulte Homes, Inc. and Centex, which agreed to finance the relocation of the firehouse and to pay for new equipment, according to Wilson. The master plan further calls for the developers to straighten Route 1 and rebuild the interchange and overpass. As in many communities, the developers have already agreed to subsidize 60 units of low-income housing, providing communities a fast, free way to provide affordable housing, an issue that long vexed planners in recent decades.

Helen McIlvaine of the Office of Housing has addressed the issue of affordable homes at the Yard, in meetings between the City, developers and community members. The proposal calls for the affordable housing to be based on yearly incomes of $54,000/yr and rents of, $1,500/month.

Among the features proposed for the new state of the art fire station are a community room to be used by both residents and fire department trainees, as well as the construction of individual sleeping quarters that will be able to accommodate the growing number of women in fire suppression.

Community concerns have also been expressed regarding noise abatement for the homes above the proposed fire station.

Alexandria Fire Chief Gary Mesaris stated that the new location in the Potomac Yard would still allow for a 4 minute response time to emergencies in Del Ray; a time still within accepted limits. Among the proposal being considered are the maintenance of two fire stations; one at Windsor Avenue holding the HAZMAT Response team and the new one at the Yard.

Centex Cityhomes Announces Silver Spring Project

Dallas-based Centex, known mainly for its suburban home communities, continues its foray into more urban condominium building by officially announcing its plans for the old auto-repair garage and lot at 1200 East-West Highway (across from the recently completed Silverton, just blocks from the metro stop. The project, called "Cityhomes at 1200 East-West," will likely contain a 14-story, mixed-use building, including 247 condos (ranging in size from 715 to 1365 sf) and approximately 10,600 square feet of retail space on the first floor. Centex purchased the property in May and will be starting construction this year; no sales date has yet been set. With the huge Gateway project underway across the street and development plans for 1200 Blair Mill Road, this south Silver Spring intersection will soon be bursting. The project should be ready in early 2008. Maybe this will give the city enough self- esteem to take down the "Silver Sprung" signs.

Ft. Totten to See Major Mixed-Use Project

Lowe Enterprises has announced they intend to develop approximately 9 acres of land next to the Ft. Totten Metro station after having joined two local developers that recently purchased the land. The Metro station serves both the Red and Green lines but the area, isolated by the CSX lines that bisect the neighborhood, has seen no residential or commercial development - until now. The project is intended to add for-sale and rental housing and substantial retail space, though the composition of the development has not yet been finalized. Though the Metro stop is known more as a dot on the Metro map than a destination, Centex and Clark Realty Capital have both announced large projects nearby - making Ft. Totten the next Petworth (which is the next Columbia Heights - which is the next U Street). Clark's project, already begun, will provide several hundred rental units to the area.

The Condo Gods Giveth, and Taketh Away

It might be tempting to analyze recent developments in the Rosslyn/Arlington condo market and make broad pronouncements on "The State Of The Market," but we’ll leave such baseless articles to the Washington Post. We’ll just go with, "You win some, you lose some." Early this week, a planned grand opening for 1325 Pierce was canceled by the Dittmar Company, and instead the company has decided to move forward with the building now being apartment rentals. Originally, these 19 units, which feature 2 or 3 bedrooms and balconies, were to start selling in the $600s, but they are now being listed for rent starting from $2350/month. When contacted, a Dittmar representative confirmed the "reverse conversion" to rentals, asserting it was done to take advantage of the "strong rental market for 2 and 3 bedroom units." However, all is not lost, as just around the corner from 1325 Pierce near Ft. Myer is a new upscale condo project named Scene Cityhomes by Centex Homes. These units are expected to include secured parking, gas fireplaces, walk out balconies, stainless steel appliances, etc. - not to mention interior "translucent walls" for those always wishing they had x-ray vision. Units will range in size from 900 sf to 2900 sf, and prices are expected to start from the mid-$400's for 1BR/BA to $1million for the penthouse 2BR/2.5BA. Delivery will be in 2008.

Arlington Virginia commercial property news