SILVERPLACE, LLC SELECTED TO DEVELOP MIXED-USE PROJECT
IN DOWNTOWN SILVER SPRING

Public-Private Partnering Effort Will Create Vibrant, Community-Oriented Environment
on Gateway Site

Greenbelt, MD...SilverPlace, LLC, a development joint venture of The Bozzuto Group; Spaulding and Slye Investments, a member of the Jones Lang LaSalle Group; and Harrison Development, has been selected to enter into a public-private partnership to develop a new mixed-use development on a 3.24-acre gateway site in downtown Silver Spring, Maryland.

The announcement was made at a meeting of the Montgomery County Planning Board on January 18. The selection was the result of a competitive process initiated by the Maryland-National Capital Park and Planning Commission last year to "plan, design and construct a mixed-use project to include a new headquarters facility for the Park and Planning Commission and residential units with a minimum of 30 percent affordable units."

The site is located at the intersection of Georgia Avenue and Spring Street. The SilverPlace, LLC plan will introduce 358 mixed-income residential units (30 percent of which will be designated affordable/workforce housing); retail space for shops, cafes, restaurants, and a grocery store; a new nine-story, 120,000 sf headquarters facility for Park and Planning; a 150,000 sf spec office building; and a public plaza with water features as well as exhibit and festival space. The SilverPlace, LLC team’s architects are Torti Gallas and Partners, who will head the master planning effort and serve as the lead architect for the residential elements, and Smith Group, who will be the lead designer for Park and Planning’s headquarters building. Michael Vergason Landscape Architect Ltd. will provide the design for the public and private open spaces.

"The design represents a balance of inviting civic space; sustainability; pedestrian-friendly planning; and community-oriented features," said Tom Bozzuto, CEO of The Bozzuto Group. "Our goal was to create an inviting sense of place that celebrates Silver Spring's wonderfully diverse civic character."

According to the evaluation committee, the SilverPlace Team selection was based on a number of key factors, including:

• The overall strength of the development team;
• The "exemplary urban design" including an architectural concept of a "signature" headquarters building and related open space;
• Presentation of the most residential units and best mix of housing.

Early time estimates suggest that groundbreaking for the project could take place in 2008 with occupancy of the headquarters facility beginning in 2010.