Whether you are a patron looking to purchase a home in Montgomery County Maryland more specifically in the town of Gaithersburg or if you currently own a home there you may want to know that plans for the Crown Farm Development may be presented before the Gaithersburg Mayor and council as early as this fall. This project is predicted to cost a billion dollars and it was put to a halt in the middle of 2009 when the developer had to file for bankruptcy. The only reason that this development may reemerge is because last month Crown Village Farm LLC emerged from chapter 11 proceedings. The original property agreement with the city that was signed in 2006 said that the Crown Farm Development, when finished, would be composed of residential Maryland real estate, retail and office space, roads, public art, a school, and many other amenities that would be added to this 181 acre parcel of land. This 181 Parcel of land is located near the intersection of I270 and 370 at Fields Road.
Crown Farm is not the only development in the town of Gaithersburg that has come to a halt. It is actually one of several large projects that have been stalled. Beside adding additional housing to the town of Gaithersburg, some people believe the Crown Farm development moving forward again it will inspire confidence in the development community as well as jump start economic development for the town of Gaithersburg.
12th Jul, 2010
