November 13, 2014

Public - Private Partnership Agreement Signed for Wheaton Triangle Redevelopment

County Executive Ike Leggett recently announced the signing of a public-private partnership agreement that will remake the downtown Wheaton Triangle. The County’s partners in the venture are affiliates of StonebridgeCarras, LLC, a Bethesda-based real estate firm, and The Bozzuto Group, a Greenbelt-based residential real estate company.

The agreement also creates a new Georgia Avenue gateway to Silver Spring with mixed-use development on the site of the current headquarters of the Maryland-National Capital Park and Planning Commission (M-NCPPC), which also houses the County’s Planning Board and Planning Department staff.

Together, the two sites represent 1.1 million square feet of development that is expected to advance Montgomery County’s smart growth, continue the revitalization of downtown Wheaton, and move County departments and agencies from leased space to a more cost-effective, environmentally sensitive, publicly owned building.

Wheaton’s new downtown will be a transit-oriented development that includes a town square, a Gold LEED (Leadership in Energy and Environmental Design) certified office building, retail, residences -- including affordable housing -- and public parking.

Read more in the news release.

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