Last week, the Montgomery County Planning Board approved a Fenton Village development with office, retail, apartment, and hotel components.
Fenton Group, LLC is the developer. The project will include a combined 9,234 square-feet of ground retail space, 28,175 square-feet of office space, and a 110-room Fairfield Inn & Suites hotel that will share underground parking with a 58-unit apartment building.
"In our first plans we thought about condominiums but there's such a need for apartments in the area, so that most likely be condos," says project manager Leslie Ennis of the building.
And really, who is buying a condominium in Silver Spring? Why, South Silver Spring Argent, originally built as a luxury condominium building, began leasing units as affordable-priced apartments in September after the market bottomed out.
As for the retail component, Ennis says there's been no lack of interest from prospective businesses, but that nothing has been finalized yet. The retail space is too small to accommodate anything other than boutique-sized businesses.
Ennis also says the neighborhood park developers will build will "truly be a community park." (And hopefully it will be a little more accessible than the Discovery garden). To make up for the remaining public space requirement, developers will give $152,728 to Maryland-National Capital Park and Planning to pay for a bike station at Gene Lynch Urban Park, which is adjacent to the Silver Spring Transit Center.
Ennis says it may take up to six months to get building permits. The entire project should be complete with 12 to 18 months of the start of construction.