Joint developers CP Capital and The NRP Group have announced plans to develop the ‘White Oak’ multifamily complex at 2220 Broadbirch Dr. in the White Oak Science Gateway Area.
The project, slated to break ground in the first quarter of 2023, is expected to consist of 390 units in townhouses and wrap-style apartments. The first units are anticipated in the third quarter of 2024, with construction expected to be completed in the second quarter of 2025.
Pricing has not been announced. 15 percent of the units will be available as Moderately Priced Dwelling Units (MPDUs), per Montgomery County requirements.
According to CP Capital’s press release, White Oak will include stainless steel appliances, quartz countertops, and vinyl flooring. A number of amenities will be available to residents such as an enclosed courtyard, sundeck, and swimming pool, outdoor cooking and dining areas, work-from-home opportunities, a dog park, a pet spa, and an extensive fitness center.
“Silver Spring has benefited tremendously from its central location within the Washington, D.C. metropolitan area, as nearly a quarter of its population is employed by a governmental agency – insulating the local economy from recent economic downturns,” said Kristi Nootens, Co-Head of CP Capital. “We look forward to continuing our partnership with The NRP Group and delivering White Oak in this thriving suburban submarket while creating lasting value for investors.”
A number of major regional employers, including the Food and Drug Administration and Adventist White Oak Medical Center, are located in close proximity to the five-story development. An office, retail, commercial, R&D, and medical development is planned for the area south of White Oak by a public-private partnership.
“We are honored to partner with Montgomery County and the White Oak and East County Community to deliver the highest-quality housing that NRP is known for nationwide in an incredibly convenient location within the thriving White Oak community in Silver Spring,” says Josh Wooldridge, Senior VP of Development at The NRP Group. “The combination of this site’s convenience, central location, and best-in-class amenities will make it a welcome addition to the White Oak market, and we could not ask for a better partner in CP Capital.”
Photo Courtesy of CP Capital