Under Construction: Silver Spring Gateway
By Silver Springer • Aug 7th, 2007 • Category: Real Estate
To the left in this photo is the Silver Spring Gateway, the building is about to top- out reaching its 15th and final floor, while the photo may look dramatic the building is only 143’ feet.
That residential building will be a combination of apartments and condos according to JBG sources, 285 apartments and 173 condos to be exact.
What was to house a Harris Teeter grocery store at over 50,000 square feet will only have an end result of 14,400 square feet of ground floor retail.
It looks like developers are waiting closer to completion before selling units, in the past a sales office would be on site before ground breaking. Now developers are waiting longer to cut sales staff and facility costs as well as keeping potential buyers “lock in†with more stringent contracts and hoping that they will be less eager to back out because there’s less of a wait time before they can move in.
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Where’d you take that photo? Is that the Burlington Avenue bridge? God, I love that bridge. Nothing says “big city!” like a panorama of cranes, trains and graffiti.
Bingo!
I must have missed some news… I had heard rumblings of a Harris Teeter… what happened to that??? We’re pretty much paying their prices at Giant lately anyway, might as well get their selection and quality too. Can anyone fill me in on that story? Thanx
Off topic.. but has anyone else noticed that over the past 6 months their Giant bill has gone up 10% or so? Seems like the new “everyday low prices” thing just means that not as much is on sale anymore.
Paul, read my write up from way back when about the Gateway including a time line of what went down with the planning board.
http://silverspringscene.com/blog/2006/08/02/rating-the-projects-the-best-and-the-worst/
As for Giant, they’re in a tough place right now ever since they reduced their headquarters space in PG and started laying people off . I expected less sales and higher prices.
I think eventually all the Giants are going to be converted to Stop & Shops anyway.
Sligo,
What does Giant being converted to Stop and Shop have to do with anything? Does that mean the prices will revert to their six months prior levels?
The rentals will be filled much faster than the condo units. The developer will try to sucker people into paying $350,000 for a 800 sq. foot one-bedroom condo. The bubble has popped and the condos of Silver Spring are taking a big hit.
Such a pity.
IHateYuppies-
You need to validate your statements with a references, or two. You sounds like someone who failed to capitalize on the growth in Silver Spring and now you’re bitter. $20 says you rent, and you regret it.
Last I heard, JBG had decided to make this entirely apartments. Originally it was envisioned as apartments, when the market went up they switched to condos, but before breaking ground they had decided to go back to apartments.
Uh, that was more of an FYI.
The food price increases seem to be an across the board thing. When Target started offering a bigger grocery section, we started buying whatever we could there because their prices were so much better than anywhere else. Their prices still beat the grocery chains’ prices regular prices, but in the last couple months I’ve noticed two distinct rounds of price increases.
It’s called inflation. With the credit and banking industry taking a hit these days, energy prices soaring and many other factors to be taken into consideration, the consumer price index will continue to rise.
IHY2: yes, the original IHY complains bitterly about not being able to afford housing in Silver Spring. He is a renter at Summit Hills at 16th & E-W Hwy. Perhaps if he would buy in a less expensive, but up-n-coming neighborhood (like WE did when DTSS was down and out), then he would over time gain some equity (i.e. wealth) through home appreciation. Then, he could sell his home at a higher price and buy what he wants in Silver Spring. Like the rest of us non-bitter, non-complaining capitalists do.
My salary isn’t “inflating”.
Americans need to spend less in general–if that means buying smaller cars, smaller houses, and less luxury items in order to pay the grocery bills, so be it.. The highest per capita debt of all developed nations–it’s shameful.
Saw an architectural image of 8700 Georgia Avenue today in the office. Was pretty disappointed. Another 60’s/brutalist throwback :(.
Cool. I got friends who hate yuppies just like me. Who knew?
I will be a buyer some day. Perhaps not in Silver Spring though.
It looks like all the commenters are getting sequels these days.
Yes, and we can have tag lines just like in Jaws 2:
“Just when you thought it was safe to stop hating yuppies…comes…I hate yuppies 2″.
What about Bob?
What about Bob? Your sequel is here too!
Pennster,
Not to worry…8700 will never be built.
The Enforcer
Is 8700 the the one where they’re tearing down the SunTrust building? Why do you say it will never be built, The Enforcer?
The Enforcer:
While I’m on my lunch break let me tell you that 8700 Georgia is being reviewed by the HPC (Historic Preservation Committee), and the project is set to go before the Planning Board on September 6. The developer was told by staff here to modify the architecture so I’m hopeful that it will turn out better than the prelim renderings. I suspect you may be part of the contingent that wants to save the current building (which I find a worthy cause–it’s a decent building, though not really historic). Am I right?
I would like to see a 14 story building built at 8700 Georgia Ave for a very selfish reason: I work at 8720 Georgia, (the building next door to the north) and get direct sun in my office for about 5-6 hours per day. It gets really, really hot and I have to keep my blinds closed most of the day, cutting off any view to the outside world. At 14 stories, the building would be just high enough to completely block the direct sun and give me only indirect light and the comfort I need. I’ll wait patiently for the wrecking ball
Sorry, historic preservationists.
‘My salary isn’t inflating’ — Awesome!
Great picture too.
It’s been great watching the building go up, what’s up with the slanted concrete posts :/
Hopefully the retail mix in the building will compliment the uniqueness of the neighborhood.
What slanted concrete posts?
One place says 17 stories - you say present 15 stories is final one - which isright? I sure HOPE this is it - I can now see that monster from almost everywhere I walk in downtown SS.
Also ANY news on what retail is actually signed up to go there or being courted?
What source says 17 stories? Final site plan says 15 and I’m sticking to that!
I work for the structural engineering company working on the job. The building has 15 stories, with no residences at the main roof level. Half of the building up to the 7th floor is parking (8 levels including basement).