DATE: July 11, 2003
Rockville Town Center Agreement Propels Development of City’s New Downtown
Letter of Intent With Developer Federal Realty and Residential Co-Developers Opens Path For Winter Start
ROCKVILLE, Md., July 11, 2003—The Mayor and Council of Rockville have reached an agreement with developer Federal Realty Investment Trust and residential developer RD Rockville, LLC, that further solidifies plans to build the City’s Town Center. Yesterday, from the eighth floor of the new Foulger-Pratt office building that overlooks the site of the new downtown, the parties announced that they have agreed on terms for a letter of intent.
Today’s announcement that RD Rockville, LLC was selected as the residential co-developer is the final major private sector piece to the plan to develop the 15 acres that will be the first phase of the new Town Center. That area is bordered by Beall Avenue on the north; Middle Lane on the south; North Washington Street on the west and Maryland Route 355 on the east. Eventually, from this central start, Town Center redevelopment will expand to a total of about 60 acres.
The new Town Center will include a mix of retail, restaurant, entertainment, residential and office uses. The new Rockville Regional Library, which will become the largest library in the Montgomery County system, will be a key element of Town Center. A town square that fronts the library is included in the design, along with wide sidewalks that will create a pedestrian environment with outdoor cafes. The planned residential projects will include 665-775 total units (350-400 apartments and 315-375 one- and two-bedroom condominiums). Three public parking garages and one private garage, along with on-street parking, will create extensive parking to support the project.
It is intended that construction on the library, the town square, the first parking garage and the first retail buildings will begin in winter 2003-04. Those projects are scheduled to be completed by winter 2005-06.
The selection of RD Rockville, LLC is considered a crucial decision made by the Mayor and Council in cooperation with Federal Realty. Town Center design guidelines call for the residential units to be built above retail stores to create a mix that will keep downtown busy after 5 p.m. and on weekends—and provide a ready market for the new retail stores that will locate in the new downtown.
RD Rockville, LLC will develop the residential units under its entities S.J. Ross Development and DANAC Corporation.
S.J. Ross, a Bethesda-based development firm with principal Scott Ross, was established in 1983. It has since developed 32 properties with more than 7,600 apartment units throughout the Washington metropolitan area—including Rockville.
DANAC Corporation, whose president is John Jaeger and also is based in Bethesda, has developed more than four million square feet of space since it was established in 1963.
The Town Center design guidelines have proposed building appearances that would create a retail street character that is different from other City streets. The town square will be used for special events such as the Memorial Day Hometown Holidays celebration and as host of the summer Farmers’ Market.
The library is designed to be a signature building for Rockville. Its design includes a mix of past, present and future. It will have large bay windows and reading areas near glass, so readers can enjoy a view. It will have extensive computer stations; more than 200,000 volumes; areas devoted to accommodate children and teenagers; and two large public meeting rooms.
Information on the draft design guidelines is available from Rockville’s Department of Community Planning and Development Services at City Hall at 240-314-8200.
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