The Veridian Apartments
By Silver Springer • May 28th, 2008 • Category: Real Estate
JBG Companies has dropped the “Silver Spring Gateway†name in favor of calling the project “The Veridian Apartments“. “The Veridian Apartments at Silver Spring Metro” to be exact.
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I called today to inquire about rental rates, etc. and was told that the leasing office is officially opening on Monday, so all that information will be available next week (at least, theoretically).
I sure hope they can fill their retail space a little faster than the Bennington…
I hope the rental rates are realistic for the residentials.
JBG just doesn’t get it. Veridian? Please. They should have been required to name it something like Blair Mill Apartments after the section of Blair Mill Road, that ran between East-West Highway and Georgia Avenue, which was closed down by the county and given to this developer so they could build this monstrosity.
“realistic?” ha, didn’t you check their pretentious website? It’s Silver Spring’s most luxurious retreat! And I love the wording of “immediate” delivery. It’s like they created a website for condos and never updated it once the market soured and these became apartments.
I’m with you on Veridian Jerry. It sounds like a Las Vegas Strip Casino. I’m betting on $1500 w/o utilities for a studio, extra for parking. Where’s IHateYuppies, he’s gonna love this place.
Seriously - how can you call something “…at the Silver Spring Metro” when it’s a 5-10 minute walk from it? Just call it like it is “The Veridian….smack dab in the middle of overpriced condos.”
according to ApartmentGuide.com, the Veridian has the following amenities:
E-lounge with Wi-Fi
2 cutting edge fitness centers
Resident pub with billiards
Rooftop pool and sundeck
Private conference room
Concierge
Chef-caliber kitchen with premium cabinetry
Granite countertops*
Washer and dryer
Floor to ceiling windows*
Private balcony*
Stunning views
Gleaming hardwood floors*
Controlled access building
Garage parking available
On-site retail
Just minutes to Metro
*In select residences
anyone know how much retail (sq.ft) there will be?
Gas prices past $4.00 per gallon.
Personal income stagnating across a wide swath of DC area professions. People in the financial sector and lobbying business are doing OK though.
Food prices have increased 10-20 percent since the beginning of the year.
Electric and gas utility usage rates have increased 30-50 percent in the past year.
Public transportation costs are rising due to greater demand on the system.
Good luck filling up those high-end apartments where I am sure one-bedrooms are going for at least $1,800-$2,000 per month (utilities NOT included of course). There is a finite number of Yuppies who make close to $100,000 per year and they aren’t clamoring to move to Silver Spring anytime soon. May the force be with you, JBG.
Peace Out–IHY
IHY:
You wrote “People in the financial sector and lobbying business are doing OK though.” Exactly, and lobbying is booming. THOSE are the people who will be moving into these apartments to be a 5 minute walk from the red line. I’m sorry to break it to you, but the DC area is going the way of NYC in that only the wealthy and young high income professionals can live near the city, the rest will have to move beyond the Beltway. The sooner you accept that the easier it will be for you.
ILY
Just called again and was told that “pre-leasing” will begin in September and that the building construction should be completed by December. They’ll start renting from the lower floors on up. 1 bedroom apartments are between $1800-2300. I sincerely hope that the leasing agent wasn’t too offended by the gasp that escaped from my mouth after hearing those figures. Realistic, my ass. Guess we’re doing another year or two at Summit Hills.
ILY, you couldn’t have said it better. Some people just can’t see the forest for the trees and would prefer to complain, complain, complain rather than take responsibility for their own lives.
Hey I hate Yuppies -
Fuel and energy costs increasing is only more of an argument FOR living in a multi-family rental or condo building near mass transportation, not against. And, I think being a 5-10 minute walk to Metro is pretty damn close for outside The District.
Do the rents sound high? Sure. They always do to people in denial about the values of this area, but the reality is it’s a new building with all the amenities in a pretty good location and it’s still cheaper than owning. It’s like the person that relocates to the DC area and thinks housing price are over heated, but then they look at rentals and think THEY are over priced too. Answer: they are just wrong about the value of housing in the area. If I moved to London I’m sure I’d think the same thing.
They’ll offer incentives to get leased up and be fine in the long run. Those JBG guys are filthy rich for some reason. Veridian sounds a lot like Meridian though (Paradigm’s moniker).
http://www.condoauthority.com
[quote comment="4431"]anyone know how much retail (sq.ft) there will be?[/quote]
14,600 square feet.
[quote comment="4434"]Gas prices past $4.00 per gallon.
Personal income stagnating across a wide swath of DC area professions. People in the financial sector and lobbying business are doing OK though.
Food prices have increased 10-20 percent since the beginning of the year.
Electric and gas utility usage rates have increased 30-50 percent in the past year.
Public transportation costs are rising due to greater demand on the system.
Good luck filling up those high-end apartments where I am sure one-bedrooms are going for at least $1,800-$2,000 per month (utilities NOT included of course). There is a finite number of Yuppies who make close to $100,000 per year and they aren’t clamoring to move to Silver Spring anytime soon. May the force be with you, JBG.
Peace Out–IHY[/quote]
IHY, you crack me up, welcome back!
ILoveYuppies,
Yep, the lobbying business is doing good. It is a crime that public officials are giving away federal tax dollars to corporations and pet, pork-barrel projects in home districts. The lobbyists shower cash on members on Congress and they respond by giving away public money. A real contribution to the fiscal sanity of our nation. Your posting was quite disgusting.
IAlsoLoveYuppies: you are Gordon Gekko, right? Don’t forget to vote for your boy, John McCain in November. I know you love the Republican Party.
Silver Springer: No matter how much you dream of Silver Spring becoming the next, uber-hip, high-roller city; you cannot ignore the fact that a community without racial and socio-economic diversity is not much of a community after all. Gentrification means homogenization of culture, shopping tastes, and living conditions. This would be a tremendous loss for Silver Spring if the welcome mat is for high-income professionals only.
Smart urban planning should be more democratic and equal for all people (poor, middle-class, and yuppie rich)…not based on the whims of the corporate real estate fantasies. It is these corporations that have co-opted smart growth and new urban projects. They will extract a pound of flesh for anyone willing to buy real estate. The market system is not the arbiter of our quality of life. Architects, urban planners, planning commissioners and local government councils have sold their souls to the corporate real estate complex. They have no feeling for their fellow citizens. It is building aesthetics over people. It is land value over people. Any architect or urban planner who wants to challenge me on this…go ahead.
-IHY-
IHY: Dude, you would have loved living in the Soviet Union. Their incredibly successful socialist adventure is exactly what you prescribe as he solution to all problems.
IALY:
Duuuuuude, how can you live in a socialist country like America when we have:
Free Public Education
Social Security
Medicare
Medicaid
Unemployment Compensation
Food Stamps for the Poor
US Postal Service
Govt. run health care for veterans
Wow, you must feel like crap living in such a commie nation like the United States.
-IHY-
IHY:
Some of those programs you mention are currently being cut, faded out and/or will be privatized over time (social security). Hardly communist. I think IALY was speaking more to your crazy comments about wanting urban planning to be equal for all. Planning should be directed at creating the best economic result, not for being fair and equal. I understand that people such as yourself pine for the “good old days” of Silver Spring when there were drug dealers running the place, but I think the vast majority are happy and excited with the increased economic development downtown.
One last thing on your comments: racial diversity and economic growth do not have to be adversaries. Actually, I live in a condo with neighbors of all races and nationalities, so that argument does not hold.
ILY
[quote comment="4489"]ILoveYuppies,
Yep, the lobbying business is doing good. It is a crime that public officials are giving away federal tax dollars to corporations and pet, pork-barrel projects in home districts. The lobbyists shower cash on members on Congress and they respond by giving away public money. A real contribution to the fiscal sanity of our nation. Your posting was quite disgusting.
IAlsoLoveYuppies: you are Gordon Gekko, right? Don’t forget to vote for your boy, John McCain in November. I know you love the Republican Party.
Silver Springer: No matter how much you dream of Silver Spring becoming the next, uber-hip, high-roller city; you cannot ignore the fact that a community without racial and socio-economic diversity is not much of a community after all. Gentrification means homogenization of culture, shopping tastes, and living conditions. This would be a tremendous loss for Silver Spring if the welcome mat is for high-income professionals only.
Smart urban planning should be more democratic and equal for all people (poor, middle-class, and yuppie rich)…not based on the whims of the corporate real estate fantasies. It is these corporations that have co-opted smart growth and new urban projects. They will extract a pound of flesh for anyone willing to buy real estate. The market system is not the arbiter of our quality of life. Architects, urban planners, planning commissioners and local government councils have sold their souls to the corporate real estate complex. They have no feeling for their fellow citizens. It is building aesthetics over people. It is land value over people. Any architect or urban planner who wants to challenge me on this…go ahead.
-IHY-[/quote]
There are essentially five things that I want for Silver Spring,
1) A large and strong office job center
2) Quality mixed-use (in every sense of the word) urban architectural developments.
3) The appropriate height and density
4) Unique uses that only Silver Spring can stake claim to (interactive science museums, film production studios etc)
5) A mixing of old and new (to a certain extent) for architectural merit and so that start up enterprises can find space.
The rest will follow if it’s done right.
None of those things are synonymous with “uber-hip, high-roller city”, it’s simply called being a vibrant urban area. I don’t think that’s too much to ask for. Dupont Circle as I’ve been told is “uber-hip” but it is no economic powerhouse.
Thank you, ILY, that was exactly my reference re: socialism. IHY’s problem is that he can’t accept the change in SS that will eventually force him out. Does he really believe that his situation is unique? This has been the case in the developing world since the invention of money and free market societies! I challenge him to find anywhere in the FREE world where his version of utopia exists. It’s not that it isn’t desired, but without extreme government control, it’s just not possible for a compact urban area to be vibrant and highly desireable and at the same time affordable for all who want to live in it (vs. near it). Basic economics of supply and demand.
ILY/IALY–The Wonder Dumbf**k Twins…
I get it. You guys own property in Silver Spring, so it’s in your best interest to keep those property values pumped up. That’s what free markets do, right? Well, what goes around comes around. Real estate prices are slumping and you have guys have mortgage payments up the ass. I understand how you guys get overly defensive when someone has an alternative viewpoint. My viewpoint might cause your condo property value to increase like 1 percent per year, instead of 10 percent. God forbid should a middle-class family making only $75,000 per year move into the neighborhood and really cause a price crash for your condos.
Secondly, you libertarian/Republican morons must feel really odd living in the heart of the Democratic, liberal den called Silver Spring, MD. You won’t find many people here expressing love for George W. Bush, the Iraq War, or destructive capitalism. The fact that most people in Silver Spring support county measures to keep affordable housing programs must really drive you guys crazy. You are paying taxes to a socialist county government…Ha Ha!
Ouch. You sure told us. Now I must go count all my money and think up ways to trample upon the less fortunate. After all, that’s what yuppies do according to yuppie haters.
what makes you so entertaining is that you are so easy to agitate. We really do enjoy reading your rants.
IHY:
See, why do you have to get all personal? We haven’t gotten personal, you have. Like many in Washington I thrive on intelligent debate on various issues. You claim that we get defensive about an alternate viewpoint while it is just the opposite. In fact you are the one becoming overly defensive since you find it necessary to resort to name calling. Quite sad. It is, however, fun to see how angry and riled you get as IALY noted.
As for living in liberal la la land aka Montgomery County: I actually don’t mind it, I grew up in crazy liberal northern NJ and learned from it. However, I would argue that the pro development forces that have brought you Bethesda and yes, downtown Silver Spring are conservative forces. And yes, I agree that Silver Spring will never become a Bethesda, and there is nothing wrong with that. I only care about continued economic growth not being slowed down by handouts to individuals who should face facts and move out beyond the Beltway where there are more affordable options. The days of downtown Silver Spring being a working class “town” are over, just as it is over for many areas of Brooklyn, Hoboken, Jersey City, Ballston, Clarendon, Alexandria etc.
Finally, you won’t find many libertarians loving George Bush either, only the religious right fellas and neocons, of which libertarians don’t subscribe.
ILY
Amen, brother. Now Smithers, release the hounds!
Looks like I’m late to the party, but just let me remind some folks that the federal government is a big employer here, and two married GS-13’s can live a solidly middle class life right here in Silver Spring. They’re not soulless yuppies, but rather well-paid civil servants.
Boy, that exchange was entertaining! Reminds me of arguments between the liberals and conservatives back in college when Reagan was in ascendency.
ILY:
What “handouts” to individuals are you referencing?
Yes, the developers are conservative forces. This is why county council members and Ike Leggett himself campaigned AGAINST real estate developers running amok. Anyone who campaigns against conservative forces like real estate developers has won elections in Montgomery County. Welcome to LiberalLand.
I wasn’t referring to Silver Spring as a “working class” town. No, Silver Spring is losing its middle class identity. Big difference there.
Moving out of the Beltway is an affordable option? Last time I checked, gas prices at $4.20 per gallon were putting a real dent into outside-the-Beltway living expenses. With fewer public transportation options, what choices do people have? Oh…just follow the laws of the free market and everything will be fine. Snicker, snort. This is why libertarianism belongs to the trash heap of history along with the other Ayn Rand reading, Ron Paul worshiping nutjobs out there.
Springvale: Do you really think federal government employees can afford Silver Spring today even at a higher GS pay grade? It’s another ball game when fed people bought property 10-15 years ago. Silver Spring is becoming out of reach for well-paid federal government workers as well.
Regarding the affordability of Silver Spring for federal workers, I bought a small 1948 brick colonial in a neighborhood about 3 miles north of downtown S.S. in 2005 (height of the housing bubble) for $520k. I figure the house is actually worth about $470, with a bubble premium of $50k. My wife and I work for the feds. Although we’re pretty high in the GS pay scale, we’re not at the top or anything. We can afford our house now, without kids, but there is not too much left over. I would say that anyone with a salary of GS13 or under would have a hard time paying a $3500 mortgage, living expenses, and trying to save for retirement. Hate to say it, but the housing bubble makes it very hard for young feds to buy in arlington, alexandra, or moco.
All I care about is WHEN ARE THEY GOING TO STOP ENCROACHING ON THE PUBLIC RIGHT OF WAY!!!!! Clear the sidewalk of the construction debris now that most of the exterior work is done and let people safely walk on the north side of E-W Highway finally!
@IHateYuppies -
No diversity. You are an idiot. Have you been to Silver Spring? Do you realize this place is a hop skip and jump from the DC line? What kind of diversity are you talking about? At dinner time you can smell the diversity in the air in Silver Spring.
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