Politics & Government

VIDEO: Second Major Development This Year Breaks Ground

The Residences at Hidden Creek becomes the second major residential development in the heart of Gaithersburg's Olde Towne to begin construction this year.

Even though grading and digging has been underway for several months, members of the development team stood with City and Federal officials as The Residences at Hidden Creek broke ground today.

The development will consist of 300 luxury apartments at the corner of Girard Street and Goshen Road—only about half a mile from Archstone, another major residential development with which Hidden Creek competed for HUD financing.

Archstone challenged Hidden Creek in front of the City's Board of Appeals last year in what Todd Jacobus, one of Hidden Creek's principal investors, called a tactic meant to win HUD's funding.

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In the end, HUD awarded both projects the 221(d)(4) program financing.

Several jokes were made throughout the ceremony about the "competitors," who Jacobus said "shall remain nameless."

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Woodfield Investments, Hidden Creek's developer, has completed nine apartment communities in the DC area and North and South Carolina, and in addition to Gaithersburg has one community under construction.


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