$12 Million Keeps Redevelopment, Including New Library, On Track for Construction Start in Spring 2004
ROCKVILLE, Md., Dec. 9, 2003 - Rockville’s Town Center redevelopment continued to stay on track to start construction in spring 2004 after the Montgomery County Council today approved $12 million to help fund the project. County Executive Douglas Duncan had requested the funding earlier this fall.
The county money was an important element of the public funding that will be used to develop the 15 acres that will compose the first phase of Town Center. This first phase, which will include the new Rockville Regional Library and a new town square, will cost about $300 million overall. More than 60 percent of that cost will come from private developers.
The action today by the County Council will provide $8.1 million in General Obligation Bonds to build the extension of Maryland Avenue north to Beall Avenue. This will be one of the key new streets in the mixed-use development. The overall $12 million funding package—including $3.9 million that will come from impact taxes and PAYGO funds—will be spread in yearly increments through FY2009. Estimates of tax revenue that the new project will generate show that the county will recoup its investment within four years of the opening of the first buildings.
“There has been a lot of hard work done getting to this stage, and there is a lot of hard work to go before we cut the first ribbon, but this is truly an important day for Rockville’s future,” said Mayor Larry Giammo. “We thank County Executive Duncan and Council President Steve Silverman for their support and their belief in the importance of a new downtown Rockville. The County Council’s support will keep us on schedule to have the first stages of this project completed by spring 2006.”
Rockville’s Mayor and Council earlier this year reached agreements with retail developer Federal Realty Investment Trust and residential developer RD Rockville, LLC, to build the first phase of Town Center. Those 15 acres that will be the center of the new downtown, to be called “Rockville Town Square,” are 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.
“I think this is a great project,” said Silverman during the discussion prior to the County Council’s vote to approve funding. “I think this will be a great step forward.”
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 an anchor of Town Center. A public 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.
The mix of uses 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.
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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