Silver Spring Park (aka Moda Vista) Moves Forward

In the works since 2007, Silver Spring Park, formerly known as the Moda Vista Residences, is moving forward in the good graces of Montgomery County Planning Board after the board approved the developer's final Site Plan last week. Fenton Group, LLC's application offered a bet-hedging vision that includes office, retail, apartment, and hotel components. The local Silver-Spring firm, headed by Ulysses Glee, has some twenty years of residential development experience, but this ambitious project will be by far their most significant to date.

The one and a half acre site, a consolidation of seven lots located at the northwest corner of the block bounded by Silver Spring Avenue and Fenton Street, and popularly known as the former location of the Fenton Street Market, will make way for a 59,870 s.f., 60-foot-tall Fairfield Inn & Suites hotel with 110 rooms, a 28,170 s.f. office building, and a 58-unit apartment building. A total of 9,234 s.f. ground floor retail will be split between the hotel and office building, while the hotel and apartment buildings will share underground parking facilities. Developers explained that the retail spaces will likely house boutique-sized businesses.

To satisfy County zoning requirements, seven of the proposed apartments will be moderately priced (or MPDUs for jargon junkies), five will be reserved as workforce housing. The streetscapes fronting Fenton and Silver Spring Avenue will get a full makeover as proposed by the developer. Fenton has also committed to earn LEED Silver certification for each of the new buildings. LEED-lovers and the County Arborist might be upset that three trees exceeding 30 inches in diameter will be lost during the necessary bulldozing during construction, but don't fret, as developers are including 14 newly planted canopy trees and 22 mid-story trees as part of their landscape plan.

But these concessions weren't quite enough to please County planners, as the 20% on-site public-use space obligation still needed fulfilling. Fenton's proposed 8,543 "pocket-park" only satisfies 17% of that requirement; as a result, developers will hand over $152,728 to Maryland-National Capital Park and Planning to fund the design and construction of a new bike station at Gene Lynch Urban Park, adjacent to the nearby Silver Spring Transit Center.

Gordon & Greenberg Architects provided architectural designs for the new buildings, while Burgess & Niple shouldered all of the site planning work. Developers expect another six months to finalize construction plans and secure building permits, with construction completion anticipated to arrive 12 to 18 months after the optimistic Spring 2011 groundbreaking.

Silver Spring, MD Real Estate Development News