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| Frequently
Asked Questions |
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| What
is the status of north parcel of Falkland Chase now that the
Planning Board has supported its redevelopment? |
| The
Planning Board recently voted to place the south and west parcels
of Falkland Chase on the Master Plan for Historic Preservation
but not the north parcel, clearing the way for redevelopment.
The Planning Board weighed arguments from all sides, particularly
those of affordable housing advocates and historic preservationists.
It decided that redeveloping the property to create new and
larger apartments, more affordable housing and new retail, including
a grocery store, was the greater public purpose. |
|
| Did
the location next to Metro play a role in the decision? |
| Falkland
North is situated just 800 feet from the Silver Spring Metro,
the future Paul Sarbanes transit center and the proposed Purple
Line, making it an ideal location for new and improved housing
and retail. Silver Spring is a major employment center in the
Washington area, and adding density in its immediate vicinity
is good government policy, according to planners. |
|
|
Is
this property really historic?
|
| The
owner and managers of Home Properties recognizes the historical
and cultural significance of Falkland Chase and respect its
place in representing early architectural contributions. However,
research concluded that the north parcel does not share the
distinguishable characteristics found in the south and west
parcels. Home Properties has made a commitment to preserve these
two parcels and will contribute significant capital to improve
and maintain these important sections of Falkland Chase. |
|
| What
are the plans for the north parcel? |
| Falkland
Chase Apartments is one of Silver Spring's best located rental
communities. Current plans call for the redevelopment of the
north parcel of the property into a brand new transit-oriented,
smart growth community. This new vibrant, multi-faceted property
will include approximately 1,000 new rental homes, providing
a greater diversity of housing options. Assuming 1,000 units,
the redevelopment will also generate 250 new affordable apartment
homes in Silver Spring. New amenities such as a pool, fitness
center and club house will be added for the pleasure of all
Falkland Chase residents. |
|
| Besides
the redevelopment of the north parcel, what other improvements
are being proposed for Falkland Chase? |
| Home
Properties intends to make important infrastructure investments
in the South and West Parcels which will ensure their longevity.
The company is also planning to rehabilitate the outdoor green
spaces, turning them into more comfortable, natural areas ideal
for sitting or strolling. The one plus acre green space on the
south parcel will be considerably upgraded and made available
as a public park area, an amenity much-needed in busy, downtown
Silver Spring. In addition, the modern stormwater management
design on the North Parcel will improve the health of the stream
on the South Parcel as well as areas further downstream. |
|
| Will
the architecture of the proposed development in the north parcel
be compatible with the south and west parcels? |
| Home
Properties considers the relationship between the architecture
and site planning of the proposed and existing parts of Falkland
to be critical. It is their intent that the style and massing
of the new buildings be sympathetic to the old while still exemplifying
the best of today's design. As the owners of all three parcels,
Home Properties wants to maintain the identity of Falkland Chase
as one contiguous property. Home Properties is being guided
by planners from the Montgomery County Park & Planning Commission
in setting the appropriate style for the new development. |
|
| What
other features will be included? |
| In
addition to expanding the number and variety of units at Falkland,
we plan to add amenities such as a pool, fitness center and
club room. These new amenities will also be available to residents
in the south and west parcels. |
|
| Is
it true that the north parcel will include a new grocery store? |
| Yes,
Harris Teeter has very strong interest in opening a new store
in Silver Spring. They have looked at this site and if our plans
are approved, they will likely sign a lease. Harris Teeter is
considering a location at the corner of East West Highway and
16th Street. |
|
| Is
there room for other retail? |
| Yes,
our plans include 50,000 square feet for the grocery store and
approximately 15,000 square feet for service retail and/or a
restaurant. The new retail would face the walkways along East
West Highway. |
|
| How
will the new development handle additional parking for residents
and for shoppers? |
| All
of the parking for the proposed development will be underground. |
|
| There's
been a lot said about the affordable housing component. Can
you explain? |
| Home
Properties is required to include 12.5% MPDUs in its proposed
plans. In addition, we are offering to contribute, under no
obligation, 4.7% of the units on the North Parcel to the Montgomery
County Workforce Housing Program for a period of 20 years.
In addition, we will contribute an equivalent number (4.7% of
the new units on the North Parcel) of units on the South and
West parcels to the Workforce Housing Program for a period of
20 years. Finally, Home Properties owns the Woodleaf Apartments
in White Oak, which is home to an HOC rent supplement program
that expires in May 2009. Plans are currently underway
to extend the program for a period of 2 years. As part
of our plans for Falkland, we remain committed to providing
homes at Woodleaf affordable to households earning less than
65% of Area Median Income for an additional 20 years. |
|
| What
are rental rates expected to be at Falkland North? |
| Although
Falkland North is still a few years away from being built, Home
Properties will price the market rate units at prices that are
competitive in Silver Spring at the time. Since the market is
ever changing, it is too soon to fix prices now for these new
apartments. |
