New Image Illustrates Developers’ Vision for ‘Mini-City’ on Shady Grove Site
Proposal calls for 1.3 million square feet of construction, including up to 1,900 homes
Via 1788 Holdings and Lantian Development
Developers have unveiled an aerial rendering of the “mini-city” they imagine rising out of a 31-acre site on Shady Grove Road in Rockville.
In coming weeks, city planners will start reviewing a proposal to replace seven office buildings with 1.3 million square feet of office, retail, residential and hotel space. The development partners, 1788 Holdings Inc. and Lantian Development, estimate it will cost $650 million to build Shady Grove Neighborhood Center at the site between Choke Cherry Road and Gaither Road.
The Bethesda-based companies announced in 2015 that they’d spent $50 million on the property located near I-270 and about a mile from the Shady Grove Metro station. Their proposal is to construct 200,000 square feet of office space, 100,000 square feet of retail space, a 100,000-square-foot hotel and up to 1,600 apartments on a 12-acre piece of the property. The remaining acreage would accommodate up to 300 townhomes, according to the development plan.
Developers submitted plans to the Rockville Planning Commission, and the project timeline depends on how quickly approvals are granted. However, onsite activity won’t get started until late 2018, according to developers.