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Report: Crown Farm Site Sold for $28M

JBG Rosenfeld Retail and the Bozzuto Group acquires 20 acres for development of Downtown Crown, Washington Business Journal reports.

A 20-acre section of Gaithersburg's Crown Farm has been sold for $28 million to developers, according to the Washington Business Journal.

JBG Rosenfeld Retail and the Bozzuto Group purchased the site—11 percent of Crown Farm's approximately 180 acres—for the development of Downtown Crown, "a mixed-use project slated to include a Harris Teeter-anchored retail center and nearly 540 apartments," the report states.

The Crown Farm property is located east of the intersection of Diamondback Drive and Sam Eig Highway, south of the portion of Fields Road located within the corporate limits of the City of Gaithersburg, west of Omega Drive, and north of the current terminus points of Diamondback Drive and Decoverly Drive, according to Crown Farm Community.

Map of the Crown Farm property

The project will include an LA Fitness and 260,000 square feet of retail space.

The developers acquired the land from Crown master developer Sunbrook Partners, WBJ reported. "Sunbrook's master-planned community of Crown is slated to be developed over 182 acres and could include about 2,200 residential units," the report states.

In lieu of the regularly scheduled Gaithersburg Mayor and City Council work session on Monday, July 23, city officials will be joined by 34 residents for a bus tour of the development site, immediately followed by an on-site presentation from Sunbrook Partners.

For more information on the 20-acre Crown Farm development, including business leases and plans for apartment buildings, read the full report on Washington Business Journal.

localron July 19, 2012 at 01:37 AM
Disgusting! If this area and that intersection aren't bad enough already and then to be putting up 540 apartments to boot. My nice area is really going to pot!
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