{"id":4677,"date":"2015-12-03T20:34:24","date_gmt":"2015-12-03T20:34:24","guid":{"rendered":"https:\/\/www.wbcnet.org\/member_news\/from-parking-lot-to-tod\/"},"modified":"2023-06-06T12:04:12","modified_gmt":"2023-06-06T16:04:12","slug":"from-parking-lot-to-tod","status":"publish","type":"member_news","link":"https:\/\/www.wbcnet.org\/member_news\/from-parking-lot-to-tod\/","title":{"rendered":"From Parking Lot to TOD"},"content":{"rendered":"<p>Silver Spring, MD \u2013 Real estate development firms Willco and <strong>Foulger-Pratt<\/strong> officially broke ground Wednesday at 8621 Georgia Avenue, the site of Montgomery County\u2019s latest transit-oriented housing development: Core.<\/p>\n<p>For years, 8621 Georgia Avenue has been one of the few remaining surface parking lots in the increasingly pedestrian and transit hub of downtown Silver Spring. The lot sits along Georgia Avenue between Colesville Road and Cameron Street.<\/p>\n<p>\u201cIt is always a great day when new life is breathed into a space,\u201d said Richard Cohen, Chairman of Willco. \u201cAs co-developer of Core, we are excited to partner with Foulger-Pratt and very eager to transform this property into homes for the residents of Silver Spring who choose transit and want their amenities close to home.\u201d<\/p>\n<p>With a walk score of 95, Core will provide multifamily housing that is just blocks from the Silver Spring Metro, the downtown retail center and major employers. Walk scores range from 0 to 100 and measure the walkability of an address.<\/p>\n<p>\u201cWe are pleased to be part of the continued renaissance of Silver Spring and to give more residents the opportunity to call this walkable, vibrant community their home,\u201d said Bryant Foulger, Managing Principal of Foulger-Pratt. \u201cFoulger-Pratt has long played a key role in the revitalization of Silver Spring. We are proud to partner with Willco to continue that work.\u201d<\/p>\n<p>Core will feature 292 multifamily units and some limited ground-level retail. Of the housing units, 17 will be workforce housing and 35 will be moderately-priced dwelling units.<\/p>\n<p>\u201cI am delighted to join Foulger-Pratt and Willco today for this groundbreaking,\u201d said County Executive Ike Leggett. \u201cThis development will be another transit-oriented jewel to enrich downtown Silver Spring.\u201d<\/p>\n<p>District 20 Maryland Delegate David Moon, County Council President Nancy Floreen and District 5 County Councilmember Tom Hucker also joined Leggett and leaders from Willco and Foulger-Pratt to kick off construction.<\/p>\n<p>The project is expected to be completed by Spring 2017.<\/p>\n<p style=\"text-align: center\">\t<img decoding=\"async\" alt=\"\" src=\"\/wp-content\/uploads\/2022\/05\/F-P_Core_Groundbreaking_Shovel_Photo.jpg\" style=\"width: 450px;height: 340px\"><\/p>\n<p style=\"text-align: center\">\t<em>Foulger Pratt Managing Principal Bryant Foulger (left) celebrates the groundbreaking for Core, Montgomery County\u2019s latest transit-oriented housing development.&nbsp; Joining Foulger are (from left to right) Willco Chairman Richard Cohen, Montgomery County Council President Nancy Floreen (At-Large) and County Councilmember Tom Hucker (District 5)<\/em><\/p>\n<p>\t&nbsp;<\/p>\n<p><u><strong>About Willco<\/strong><\/u><br \/>\nWillco is a leading developer, owner, investor and manager of first-class commercial real estate based in the Washington, DC Metropolitan Area. With a broad network of partners and a deep understanding of the Metropolitan Washington Area \u2013 one of the world\u2019s most vibrant real estate markets \u2013 its active portfolio includes five million square feet.<\/p>\n<p>Since its beginning in the early 1960s, Willco has completed hundreds of projects \u2013 office buildings, hotels, shopping centers and mixed-use facilities\u2014totaling more than 20 million square feet of development. Willco remains locally owned and uniquely adept at identifying overlooked opportunities in the regional market, with a long track record of valuable investments.<\/p>\n<p><u><strong>About Foulger-Pratt<\/strong><\/u><br \/>\nEstablished in 1963, Foulger-Pratt is a real estate development firm distinguished by its long-term investment focus and extensive experience executing successful mixed-use, transit-oriented projects throughout the Washington DC metro area.&nbsp; The firm\u2019s intimate knowledge of virtually every submarket in this robust and stable regional economy has enabled it to develop more than 13.7 million square feet of commercial office, retail space, and multifamily residential projects.&nbsp; From acquisition to development, construction to asset management, the company\u2019s fully integrated teams create value at all stages of an investment\u2019s lifecycle.<\/p>\n<p style=\"text-align: center\">\t<span style=\"color:#696969\">###<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Silver Spring, MD \u2013 Real estate development firms Willco and Foulger-Pratt officially broke ground Wednesday at 8621 Georgia Avenue, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4678,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - 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