
Real Estate Overview
Rockville continues to ride the wave of redevelopment and economic
growth. Every year, more businesses are calling Rockville home and
new development projects, like King Farm and Fallsgrove, are building
fine, quality homes for Rockville's growing population.
The city's five major development projects and planning sites
will continue to add to Rockville's rich culture, economic vitality,
and community diversity. While these projects and planning areas vary
in location, scope, and design, what ties them together is their unique,
mixed-use approach. Residential, retail, entertainment, and office
space all play vital parts in the development of these projects.
Completed Projects
Projects Underway
King Farm Irvington Centre
800 Pleasant Drive, Suite 100, Rockville, Maryland
Developer: King
Farm Associates, LLC
King Farm is a national model for urban planning, providing space
for living, working, shopping, and recreation. The mixed-use community's
430 acres are rich in tradition and history, keeping in harmony with
the historic architectural characteristics of the City of Rockville.
Irvington Centre is the 90-acre commercial centerpiece of King Farm,
featuring several million square feet of office space. White-tablecloth
restaurants and other business-support services occupy the first floors
of the three completed commercial buildings at Irvington Centre. Companies
located in Irvington Centre experience an urban atmosphere in a suburban
setting, with easy access to I-270 and to the Shady Grove Metro subway
station.
The
Village Center is a 120,000-square-foot retail center located
in the heart of King Farm. The shopping center is within walking distance
of King Farm's residential and commercial developments.
King Farm's two residential villages, Watkins Pond and Baileys
Common, feature single-family homes, townhomes, condominiums, and luxury
apartments in an award-winning neotraditional design. The residential
communities are intertwined with natural areas including a 12-acre
park at the center of Watkins Pond. Developed by the City of Rockville,
the park features tennis and basketball courts, softball and soccer
fields, playgrounds, and picnic
areas.
Fallsgrove
Fallsgrove Village Center, 14955 Shady Grove Road, Rockville, Maryland
Developer: Lerner Corporation
Fallsgrove is a 250-acre mixed-use neighborhood development. The
Fallsgrove Village Center includes 136,000 square feet of retail space
to accommodate neighborhood retail, restaurants, and a major grocery
store. Surrounding the Village Center is a diverse mix of residential
units including single-family homes, townhomes, stacked townhouses,
and low- and mid-rise multifamily units.
In addition to a shopping center and residential units, the mixed-use
community includes the Fallsgrove Village Office Center, a three-story
Class A office development with 75,000 square feet of leasable space.
Two full service hotels and a conference center are planned to be built
on site. The Hilton Garden Inn (110 rooms) and Homewood Suites (90
rooms) are scheduled to begin construction in early 2007.
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