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This thread is to consolidate all Gaithersburg Development into one thread. It will include everything related to development in the city of Gaithersburg and close in suburbs. The thread will include:
-Housing Construction and Development
-Commercial Construction and Development
-Transit Development
-Public Space Development
The Kentlands Downtown Partnership (KDP) is looking into creating an arts and entertainment district in Kentlands, but that distinction on a state level could mean a loss of hundreds of thousands of dollars in tax revenue for the city.
During a KDP meeting in March, the group agreed to explore the merits of the program and see if it could be beneficial for economic development in Kentlands.
“It could add value to our area like it does Bethesda and Frederick,” said KDP Treasurer Joe Allen.
But, one of the requirements of the state distinction is that the municipal corporation will offer certain incentives to arts and entertainment enterprises and qualifying residing artists if approved. One of those incentives is an exemption from the admission and amusement tax.
That tax nets Gaithersburg about $750,000 a year mostly from movie tickets and video game machines, according to Deputy City Manager Tony Tomasello.
“A bulk of this tax revenue comes from the theaters at the Rio (at Washingtonian Center) at Kentlands (Kentlands Stadium 8),” Tomasello said.
The State of Maryland created the Arts and Entertainment designation as a way to stimulate economic development, promote tourism and encourage the support of the arts. The legislation enables local jurisdictions to apply for this state designation, which in turn can net tax incentives for those arts and entertainment entities located within the designated area.
The designation however comes with little actual state funding.
“There really is no committed funding from the state,” said Jesse Rye, program director for the Maryland State Arts Council.
There are technical assistance grants, but no immediate funding for signage or promotional material, Rye said.
Tomasello said he plans to meet with KDP members to brainstorm about the district designation and said it could be an option to create a local designation without going through the state’s process.
“These are informal discussions,” Tomasello said. “We may find it is easier to self designate.”
Most areas such as Hagerstown, Cambridge, Silver Spring and Frederick used the Arts and Entertainment District to help revitalize their downtown areas. Another state requirement is that the area up for designation is a “priority funding area” for the municipality approving the application.
“If you look at most of the AEDs they are in places that are looking for revitalization. Whether Kentlands downtown fits that is to be determined.” Tomasello said.
City Councilman Ryan Spiegel said he supports arts and culture as an economic development tool and wants to explore the idea of creating the district in Kentlands.
“I am excited to explore the idea and hear more details for their plan. Even without a state designation doesn’t mean we can’t do other things to promote the arts in Kentlands,” he said.
Mayor Sidney Katz said with funding “tough to come by” he would like to hear more about how the designation would affect the city budget.
“I just don’t know enough about it to know if it is good or not good for any area,” he said.
New building for Gaithersburg High to break ground in March
Construction at the site of Gaithersburg's 60-year-old high school will start soon.
The Montgomery County Council approved a resolution Tuesday morning that allocates $8 million for site work needed to start the Gaithersburg High School replacement project. Two million dollars was allocated for this fiscal year, which means the first phase of construction can start next month, instead of next summer.
The Montgomery County Board of Education requested the budget shift in January.
The replacement of Gaithersburg High School is expected to take three years. The first phase, now funded, includes drilling geothermal wells under a proposed temporary parking lot.
The $107.5 million project was funded in the school system's 2011-16 capital improvement program.
According to plans, the new school will be built on the site of the existing parking lot. After construction, the old school will be torn down.
The new building will hold up to 2,294 students — about 300 more than the existing 320,000-square-foot facility — and grow to 429,619 square feet.
Two parts of the old school will remain: the auditorium, which was built in 1973, and the "J" wing, which was built in 2005. A third story will be added to the "J" wing during the modernization.
The original 1951 building will be demolished and the area will become parking area and playing fields, MCPS Director of the Division of Construction James Song told the Gaithersburg City Council on Monday night.
The new buildings will be completed and ready for use by August 2013, if everything goes according to plan, Song said. The entire school site will be finished by August 2014.
Gaithersburg High School was originally built in 1951 at 68,184 square feet. Seven additions from 1956 to 2005 added 255,292 square feet of space.
The school has been plagued over the years by complaints about cramped spaces, leaking roofs and run-down equipment.
At a public hearing last week to study the proposed funding increase, parent Laurie Augustino said the community had waited long enough for a new school.
"Over the past many years, members of the council have heard us talk about the new GHS construction project, yet it was always mentioned as part of the future of GHS. There were always delays, and there were always uncertainties, but we pushed on to bring this ‘future' project into the present," said Augustino, who is also the building committee chairperson within the school's PTSA.
Several more details must be worked out before large-scale construction begins, Song said.
The city and school system will work together to regulate construction traffic on DeSellum Avenue and monitor parking in residential areas around the school once classes begin.
The school system is also still working out how to run Gaithersburg's athletic program during the construction, Song said. The school may have to hold all home games and practices for teams that use the football field at away locations for the full three years of construction, Song said.
Developers are one step closer to building a new housing development in Gaithersburg.
The City Council on Monday unanimously approved the schematic development plan for two Crown Farm neighborhoods.
The plans detail road patterns, house designs and landscaping features in and around the 339 townhouses, 60 single-family detached houses, 1,149 apartments and 257,400 square feet of commercial development planned for the 90-acre site.
The developer, SunBrook Partners, made several changes to the neighborhood plans after a public hearing in February, such as more apartments, more parks and more tree plantings in front of large buildings such as parking garages to improve the development's look from surrounding areas, said Greg Ossont, the city's director of planning and code administration.
The council's approval included conditions such as landscaping and road improvements. SunBrook will work with the Montgomery County Department of Transportation to allow a left turn from Diamondback Drive into the development.
All the conditions must be met before the city planning commission can approve the final site plan, which will likely be submitted in the next few weeks, Ossont said. The final plan will probably be submitted in several parts for the sections of the two neighborhoods, he said.
Neighborhood one, planned as the commercial center of Crown Farm, includes 1,149 apartments in three- and four-story buildings. The neighborhood also has four parking garages, six retail buildings, 51 townhouses and a central park.
Neighborhood two includes 288 townhouses, 60 detached houses, three parks and the historic England-Crown farmhouse.
Crown Farm will have 2,250 residential units, 320,000 square feet of commercial space, a park and a regional high school. The 180-acre development is bordered by Fields Road, Sam Eig Highway and Omega Drive.
Archstone—a leader in apartment investment, development and operations—today announced that it has begun construction on a 389-unit, transit-oriented apartment community in Gaithersburg, Md. The development will be funded primarily through an $89.9 million FHA insured Section 221(d)4 loan through CWCapital.
“We are excited to be an active developer of high quality infill apartment communities again, and expect significant additional investment activity in 2011,” said Scot Sellers, Archstone’s chief executive officer. “We are pleased to have completed our recent balance sheet restructuring, which positions us well for the future.”
The Gaithersburg community will provide much needed housing to the area known as the epicenter of the nation’s biotechnology research industry. Located just south of the intersection of North Summit and East Diamond Avenue, in Gaithersburg’s historic downtown, the 6-acre site sits directly across from the Gaithersburg MARC Rail Station, a commuter rail stop that will provide future residents with direct access to downtown Washington, D.C.
“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. “The area’s unique combination of a growing technology employment base, strong demographics, exciting growth projects, like the new Science City, and easy access to mass transit, make it an outstanding location for high quality institutional investment. 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.”
When complete, the Gaithersburg community will not only feature well-appointed apartment homes, but also a host of resident-centric, quality-of-life amenities, including 15,000 square feet of street-front retail space, a beach-entry lagoon-style pool, a fully-equipped re-oxygenating fitness center, pet grooming salon, a resident greenhouse and an above-ground parking garage.
“We develop all of our communities with attention to every detail,” said Rob Seldin, Archstone’s senior vice president of development for the East Region. “We know that people have a choice in where they call home; therefore, it is always our objective to provide both prospective and existing residents with the most reasons to choose Archstone. Archstone Olde Towne will be developed with a unique combination of features and amenities that will clearly differentiate it from other apartments available in the area, along with a few surprises that we’ll announce as we get closer to the grand opening.”
The Gaithersburg project is the second major apartment community Archstone has begun developing in the Washington, D.C., area this year. In July, the company broke ground on Archstone NoMa, the newest apartment addition to Washington, D.C.’s white hot NoMa Business Improvement District. The Archstone NoMa apartments in Washington, D.C., are primarily funded through a $152 million FHA insured Section 220 loan, also through CWCapital.
Red Provides Over $48 Million in New Construction Financing for Maryland Apartment Community
Red Mortgage Capital, LLC, the mortgage banking arm of comprehensive capital provider RED CAPITAL GROUP (“RED”) and the lender that provided the most FHA insured multifamily loans in the nation this past year, provided FHA Section 221(d)(4) non-recourse financing in the amount of $48,869,600 for the construction and permanent financing of a Class A multifamily property near the City of Gaithersburg’s historic downtown.
Residences at Hidden Creek will have two four-story buildings containing 300 multifamily units. Forty-five of those units will be offered to qualifying residents earning no more than 60% of the Area Media Income. The community also will include 4,000 sq. ft. of light retail and a 484-space parking garage. The property’s prime location offers several mass transit options within walking distance and/or a short ride, providing easy access to Washington D.C. and Baltimore.
Woodfield Investments, LLC, a mid-Atlantic and Southeastern development firm, is the sponsor/developer of the project and has assembled a highly skilled team with a tremendous amount of experience, including Clark Builders Group as the General Contractor and Bozzuto Management Company, which will manage the property. The Housing Studio served as the architectural firm.
Todd Jacobus, Principal of Woodfield Investments, said, “This is the second 221(d)(4) we’ve had the pleasure of closing with the RED team. We started underwriting during the depths of the financial crisis and due to the tenacity and professionalism of the entire working group, were able to overcome a number of obstacles with the end result being job creation and much needed market rate and affordable housing for the City of Gaithersburg.”
Lee F. McNeer, Director of Red Mortgage Capital, LLC and lead banker on the transaction said, “For decades, FHA insurance has provided a predictable structure for new construction multifamily properties across our nation, promoting housing that better meets the needs of communities. Residences at Hidden Creek not only will provide an economic benefit to Montgomery County through the construction jobs it creates, but it also will provide 300 quality units at a site that is near numerous employment opportunities, transportation options, shopping and community services for its residents. We are very proud to have worked with Woodfield Investments, LLC and HUD on this Class A project.”
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