Rockville Development Ditches Office Space, Shifts to Apartment Building
Project leaders cite poor market conditions for switch
Developers have pitched a plan for an apartment building on Research Boulevard in Rockville.
Rendering via the City of Rockville
Developers have shifted their focus from a new office on Research Boulevard in Rockville to a 350-unit apartment building.
The 6.5-acre property, at the corner of West Gude Drive and Research Boulevard, was originally designated for a 210,981-square-foot office building. Developers of FG Office Group LLC, an affiliate of Lerner Enterprises, have determined the location is not feasible for more office space, according to a development application filed with the city of Rockville.
“This determination is based in part on the Applicant’s difficult experience trying to lease the existing Fallsgrove office building along Shady Grove Road, that to date, is still not fully leased,” the development proposal says.
New plans call for a five-story, 365,000-square-foot apartment building with up to 350 units. Developers included a parking lot and an underground parking garage with a total of 525 spaces, a swimming pool and green space.
Rockville’s Development Review Committee will consider the proposal at a meeting Oct. 24.