A seven-story, 405-unit apartment building is likely coming to the current location of a used car dealership after the City of Rockville Council on Monday unanimously approved annexing the property.
The developer of the site, identified only as Frederick Road LLC in city and county documents, applied to get the 4-acre CarMax property at 15931 Frederick Road annexed into the city.
The property sits next to the Shady Grove Metro station and across King Farm Boulevard from a site that was annexed by the city in 2012 before a similar mid-rise apartment building was developed.
The CarMax sales lot on the site is set to relocate to a nearby property on Shady Grove Road. Instead of applying for a redevelopment project with the county, the developer chose to apply for permission to build from the city, which has its own Planning Commission and development approval process.
The Montgomery County Council approved the annexation request in December.
The apartment project would include some ground-floor retail space facing Frederick Road, directly across the street from the King Farm development. It would also include a parking garage. The City of Rockville Planning Commission is expected to review and take action on the proposal in March.
The city determined that the tax revenue generated from the project would outweigh the cost of any additional government services needed for its future residents. The project is estimated to bring the city an annual net amount of between $2,505 and $14,633 over the next 20 years.
The city also estimated the project would bring 62 more students, spread evenly over the elementary, middle and high school levels, to Washington Grove Elementary School, Forest Oak Middle School and Gaithersburg High School.
The CarMax site at Frederick Road and King Farm Boulevard, next to the Shady Grove Metro station
