Washington Property Co. Delivers Maryland Project
The 20-story, 338-unit luxury community in Silver Spring is about half leased. The transit-oriented development marks another milestone for the city's evolving Ripley District.
Washington Property Co. (WPC) has delivered Solaire 8250 Georgia Ave., a 20-story, 338-unit luxury community in Silver Spring, Md. Residents will begin moving in this week to the developer’s fourth Solaire-branded residence.
(Read also: In 2017, Grosvenor Americas opened Central, an upscale 243-unit community nearby Solaire 8250 Georgia Ave in the city’s downtown.)
Lendlease is the general contractor for the 470,000-square-foot building, with Design Collective serving as the architect. Located at 1150 Ripley St., the property includes 5,000 square feet of amenity space, featuring a rooftop swimming pool, café, private courtyard, residents’ clubroom and other perks, as well as three levels of blow-grade parking. The project will also create 15,000 square feet of new retail space, which is being leased by CBRE Retail Services.
About half of the community is already leased and comprises studio, one- and two-bedroom units. The property is situated in the downtown Ripley District of the Washington, D.C. suburb, two blocks from the Silver Spring station of the Washington Metro.
Transforming the neighborhood
WPC acquired the land for the development from Bethel World Outreach Ministries International in 2013 and received approval to break ground on the site in 2017. Solaire 8250 Georgia Ave. marks WPC’s second Solaire-branded property in the city’s formerly industrial Ripley District, after Solaire-Metro, a 295-unit luxury community that opened two blocks away in 2012.
WPC has now completed four transit-oriented communities under the Solaire brand, totaling more than 1,000 units, including one property each in Wheaton and Bethesda, M.D. The developer expects to break ground on a fifth tower later this year, Solaire Silver Spring II, a 420-unit asset also located in Silver Spring’s Ripley District.
The developer has partnered with Montgomery County to lead the creation of a transit-oriented neighborhood in the district, which is projected to host as many as 3,000 residents with more than 2 million square feet of mixed-use development.