New Silver Spring Maryland Residential Real Estate Development
Located on Cameron Street, across from the new United Therapeutic project is the future site of the Cameron House. Construction on this new Silver Spring Maryland residential real estate development is expected to begin within the next month. It is predicted that this Montgomery County, Maryland development will take roughly 2 years to complete. Behringer Harvard, Brook Real Estate Opportunity fund is the commercial real estate investing company, based out of Dallas that is funding the development of this new apartment complex. This will be Behringer Harvard’s third luxury apartment complex located in the Suburban Washington, DC. However it is the first time this company will be dealing with the Maryland real estate market. Fairfield Residential, headquartered out of Grand Prairie, Texas, and San Diego, will be the developers on all three projects. The other two projects are the Fairfield at Columbia Village, which is a 234 unit development, and the Fairfield at Bailey's Crossroads which is a 414 unit development. Both of these developments are located in the state of Virginia. The Cameron House will also be funded through a joint venture with Brookfield Real Estate Opportunity Fund.
Mark Allferi the senior vice president of real estate, for Behringer Harvard said that the downtown area of Silver Spring has been going through a rebirth, with roughly 360 acre large business district; that has attracted large employers like the Discovery Channel, American Film Institute, the National Oceanic and Atmospheric Administration, Choice Hotels international, and United Therapeutics Corporation. Another fact to note about the Silver Spring area is that it is the second largest city in Maryland.
About the Cameron House
The Cameron House (8710 Cameron Street) is located at the intersection of Cameron Street and Fenton Street. If you were to jump on the metro which is located roughly a half mile away, you can be at the Capitol in roughly 12 minutes. The Cameron house will consist of 302,469 square feet of rentable space. There will be roughly 325 apartments in this complex. Out of these apartments roughly 53% will be one bedroom and the remaining 47% will be two bedroom. All of these apartments will be furnished with marble bathrooms, granite countertops, and 9 foot ceilings. Another nice feature that this development will be offering to its residents are 434 underground parking spaces. The amenities that the Cameron House offers are a rooftop Swimming Pool, Fitness Center, Business Center, and a club room. Finally this development will also offer 7,500 square feet of rentable retail space.
