Tower Companies Break Ground for The Pearl
The Tower Companies broke ground today for The Pearl, a new high-rise residential building in downtown Silver Spring. Elected officials, community leaders and project team members celebrated together with a groundbreaking ceremony. The apartment building will be a 14 story complex made up of three buildings with 284 rental units, and 30,000 sf of indoor/outdoor amenity spaces including a floating wellness center, private courtyards, and a rooftop pool terrace overlooking Rock Creek Park.
Land use attorneys Robby Brewer, Bill Kominers and Chris Ruhlen serve as land use counsel for the project; real estate attorneys Sharon Nelson Craig and Cindi Cohen provide real estate development transactional representation.
This project is the first phase of a 20-year master plan redevelopment that will reinvent the historic Blairs community, which has been owned and managed by Tower since 1958. This all-encompassing redevelopment will include 200,000 sf Class A office, 125,000 sf high-end food/ beverage retail, a 200 key hotel, and 2,800 luxury high-rise residential units, interconnected by five acres of parks, playgrounds, dog parks, and more. Across the street from the Red Line and MARC stations and future Transit Center and Purple Line, the Blairs redevelopment is a model for transit-oriented and smart-growth development that connects the community, promotes business, and creates a 24/7 lifestyle.
The project team is pursuing LEED Gold Certification for The Pearl and has designed various innovative features that speak to the vision and well-known sustainability leadership by The Tower Companies.
The Pearl is scheduled to be substantially complete by December 2016.
The Tower Companies is a family-owned and privately held real estate development and property management company with properties located in the Washington, D.C. metropolitan area and was founded in 1947 by Albert Abramson. Tower owns, develops, and manages over five million square feet of office buildings, office parks, lifestyle centers, regional malls, eco-progressive live-work-play communities and hotels with over 8 million sf in the development pipeline and is known among peers and the entire industry to be a green building pioneer and leader.
For more, visit The Tower Companies.