New Montgomery County real estate in Derwood
There is a proposal to develop new
homes in Montgomery County in the town of Old Derwood. The County’s planning board has approved a preliminary site plan for the 3.26 acre parcel of land, known as the Thomas Somerville property. As it currently stands this new
Montgomery County real estate development, if constructed, will add roughly 150 new
Montgomery County Maryland homes. If this plan goes through in its current form Keystone Real Estate Investment LLC will be the developer of the property. They plan on building 36 townhomes, three single family houses and a four story building that will be home to 117 different units. As of now, it is undetermined if the multi family units will be developed as condos or as apartments. Also, according to one of the managing members of Keystone Real Estate Investment LLC, the proposed name for this community will be Residences at Shady Grove Station.
An interesting fact to note about this proposed community known as Residences at Shady Grove Station is that it will be adding some moderately priced dwellings to the
Montgomery County real estate market. Currently, the plan calls for 18 units in the multi family building and three single family houses that face Chieftain Avenue to be moderately priced Dwellings / Units. Many of the residents like the plan that Keystone Real Estate Investment LLC has come up with, however their main concern is the traffic that will be added with the development of this community.
In order to alleviate the traffic issue, Rich Koch, who is a managing member of Keystone Real Estate Investment LLC said they will add street parking on Chiefton Avenue. They hope that this will discourage non residence from using this road to cut through the neighborhood. Another interesting fact to note about this area around the Shady Grove metro station is that the current Shady Grove sector plan is designed to bring thousands of new residences to the area. In order to help alleviate the traffic that will be caused by these new houses being developed in the Derwood area, the sector plan also calls for traffic circles to be developed at the intersection of Yellowstone and Chieftan. Unfortunately the Planning Board has recently stated, that there is not enough right of way here to develop a traffic circle according to the Department of Transportations standards. So, in response to this, Koch also stated that Keystone will widen Yellowstone in order to add a turning only lane onto Redland which will hopefully aid in the alleviation of traffic.
