Silver Spring, Maryland (PRWEB) February 05, 2013
Insight Property Group LLC (Insight) and Nova-Habitat LLC today held a groundbreaking ceremony with neighborhood leaders and Montgomery County officials as they started construction work on Fenwick Station, a six-story, 310-unit apartment development two blocks from the Silver Spring Metro Station in downtown Silver Spring, MD. The new residences are located on the site of the former U.S. Post Office distribution facility at 8616 Second Avenue. Fenwick Station, which is being built to LEED Silver specifications, will include 39 affordable units within the mix of studios, one and two-bedroom apartments and will offer 11,000 square feet of amenity space. Site features include a public plaza, a Capital Bikeshare station, for which Insight dedicated the land, and a temporary walking and biking trail that will ultimately connect to the planned Capital Crescent Trail.
Insight Principal, Richard Hausler, noted the unique locational qualities of the project, saying, “Fenwick Station is located in a well-established residential neighborhood and at the same time offers residents immediate access to Metro and all of the amenities of downtown Silver Spring. The large plaza area will also welcome residents from surrounding neighborhoods with attractive benches, a water fountain for bikers and a gathering place for community events.” He added, “Silver Spring continues to experience very low apartment vacancy rates, with strong demand for apartments that are walking distance to Metro, retail, restaurants and a large commercial jobs base. We received wonderful support from the surrounding communities and the County agencies as we went through the planning for this important addition to the Silver Spring community.”
Montgomery County Department of Economic Development Director, Steve Silverman, expressed his enthusiasm for the project, noting that, “Fenwick Station will improve the important connection between nearby neighborhoods and the downtown Metro core. This new development is a direct result of the County’s encouragement of site development of projects with access to public transportation and we congratulate Insight today on the start of this new addition to the Silver Spring community.”
Fenwick Station residents will enjoy a variety of recreational and social spaces including an outdoor dining room and pool on the ground level, a resident lounge and clubroom with kitchen and billiards, a fully wired business center, state-of-the-art fitness center, a guest suite and a rooftop terrace with an open-air TV gathering space with a built-in bar. The public courtyard and grounds will be abundantly landscaped with hardscape features and plantings and location-related public art pieces.
Silver Spring has in recent years completed its transformation as a destination of choice for Washington area residents seeking an urban lifestyle in an authentic and well-established community. The City’s downtown has undergone a complete redevelopment with award-winning restaurants, walkable retail centers, a thriving arts community and unparalleled access to area roads, airports and transportation centers.
The Fenwick Station team is comprised of top quality firms in the areas of design and construction:
About Insight Property Group LLC
Founded by longtime multifamily industry veterans, Richard Hausler and Michael Blum, Insight Property Group LLC acquires, repositions and develops well-located apartments and mixed-use real estate in the Washington, D.C. metropolitan area. The principals have more than 70 years of experience in the region’s real estate industry. For more information, visit: http://www.insightpropertygroupllc.com