Montgomery Planning Applauds Urban Land Institute’s Real Estate Trends Awards Honoring Three Projects in Montgomery County
May 4, 2017
ULI recognizes mixed-use development in Bethesda, office renovation in Rockville and adaptive reuse in Silver Spring for creative problem-solving in DC region
Silver Spring, MD – The Montgomery County Planning Department, part of the Maryland-National Capital Park and Planning Commission (M-NCPPC), is pleased to announce that three winners of the 2017 Real Estate Trends Conference Awards from the Urban Land Institute’s Washington chapter are located in Montgomery County and reflect the Department’s ongoing efforts to improve the quality of development in the county.
On April 25, ULI Washington announced the seven winning awards, which were chosen from 54 entries and 14 finalists. One of the finalists in the Impact category was The Bonifant at Silver Spring, a 149-unit apartment building catering to seniors.
Criteria for the awards include innovation, development approach, land use economics, project financing, transit-friendly measures, sustainability, local community benefits and design excellence.
Three out of the seven winning 2017 Trends Awards projects are situated in Montgomery County:
Excellence in Office Development: 5600 Fishers Lane, Rockville
This office building renovation near the Twinbrook Metro Station realizes the transit-oriented development recommendations of the 2008 Twinbrook Sector Plan. The modernized building has brought tenants and development to the area, and ensured the continued presence of more than 4,000 jobs, mostly concentrated in the fields of health and bioscience.
Excellence in Mixed-Use Development: Lot 31, Bethesda
Situated near the Capital Crescent Trail and Bethesda Row, the buildings known as The Darcy and The Flats provide an underground public parking garage and ground-floor stores and restaurants, in addition to residential units. They represent the type of walkable, mixed-use development recommended for the Bethesda central business district and re-emphasized as part of the 2017 Bethesda Downtown Sector Plan.
Excellence in Adaptive Reuse: The Octave, Silver Spring
Centrally located in Downtown Silver Spring, the developers of The Octave converted a former office building into affordable condominiums within walking distance of a Metro station. The project realizes the goals of the 2000 Silver Spring Central Business District Sector Plan, providing modern design and financially accessible homeownership opportunities for those priced out of the DC market. It is a model that could be replicated in other office buildings, many of which are experiencing high vacancy rates, as documented in the Planning Department’s recently completed Office Market Assessment.
For more information, check out the online ULI Washington’s 2017 Real Estate Trends Conference Awards.
About The Montgomery County Planning Department
The Montgomery County Planning Department, part of The Maryland-National Capital Park and Planning Commission, aims to improve quality of life by conserving and enhancing the natural and built environment for current and future generations. The Planning Department creates great communities by developing master plans, reviewing applications for development and analyzing various types of information to help public officials plan for Montgomery County’s future. The Department comprises 140 staff members and provides recommendations, information, analysis and services to the Montgomery County Planning Board, the County Council, the County Executive, other government agencies and the general public. Visit www.montgomeryplanning.org.
About the Urban Land Institute
ULI is a nonprofit research and education organization supported by its members, representing the entire spectrum of land use and real estate development disciplines working in private enterprise and public service – including leading property owners, investors, advisors, developers, architects, lawyers, lenders, planners, regulators, contractors, engineers, university professors, librarians, students and interns.
ULI Washington is one of ULI’s largest District Councils worldwide, with almost 2,000 members. We welcome membership and participation from all types of organizations, both private and public, who share our commitment to responsible land use to sustain the growth and prosperity of the National Capital region.
Through District Council-sponsored educational forums and events such as a trends conference, community outreach programs and avenues for active dialogues between private industry, environmental organizations and public agencies, we provide industry expertise to community leaders allowing them to create solutions to local and regional issues. The opportunity to influence local land use policy remains the focus and achievement of ULI Washington. Visit www.washington.uli.org