FAQ
What are rental rates expected to be at Falkland North?
Home Properties will price the market rate units at prices that are competitive in Silver Spring at the time of delivery. Since the market is ever changing, it is too soon to set prices now for these new apartments.
What amenities will be included?
Amenities will include a swimming pool, fitness center, business center, playground, club and media room. Also considered amenities of this new urban community will be a new grocery store, retail and restaurants, parks, rooftop terraces and a main plaza.
Is it true that Falkland North will include a new grocery store?
Yes, there is very strong interest in opening a grocery store in Silver Spring. It is too soon to speculate who the operator will be.
Is there room for other retail?
Yes, 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?
Parking will be provided in a mix of above and below grade structured parking. With the exception of a small number of “convenience” spaces located along the internal street, all parking will be concealed from view.
What makes this location so attractive?
Falkland North is situated just 800 feet from the Silver Spring Metro, the future Paul Sarbanes Transit Center and the proposed light-rail 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.
There’s been a lot said about the affordable housing component. Can you explain?
All residential developers in Montgomery County are required to include 12.5% of Moderately Priced Dwelling Units (MPDUs) in any proposed development. Home Properties is meeting that requirement and more at Falkland North and adding additional affordable apartments on Falkland’s South and West parcels for a period of 20 years. Home Properties also owns the Woodleaf Apartments in White Oak, which is home to an HOC rent supplement program that expires in May 2009. Home Properties is planning to extend the program for two more years. As part of its plans for Falkland, Home Properties remains committed to providing affordable homes at Woodleaf to households earning less than 65 percent of Area Median Income for an additional 20 years.
Supporters
Home Properties is very grateful to the many individuals and groups that have expressed their support for the redevelopment of Falkland North.
- Action in Montgomery
- Department of Housing and Community Affairs
- Homeless Coalition
- IMPACT Silver Spring
- Montgomery College
- Silver Spring Chamber of Commerce
- Smart Growth Alliance
- Victory Housing
- Letters of Support
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