Rockville Pike in Montgomery County, MD, is no emerging area, but850 Bisnow DC readers are excited enough about its potential to have joined us for our latest DC event, on Monday. 195,000 residents have descended on the county since ?89, MoCo Planning Department director Rollin Stanley told us. That leaves only 28 undeveloped acres, and 98% of the housing stock is single-family. As GenY-ers find jobs and move out of Mom and Dad?s basement, and as retirees downsize, where will they all go? Dense development surrounding transportation options is the only way to fit 'em all in. And there are economic benefits for the county and municipality, too. Rollin lives in high-rise worth $32M, while a single-family home on a lot of the same size is worth $810k. |
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