The Blairs, a Silver Spring apartment institution since the late 1950s, will be getting a brand-new look in the coming years. Tower Companies' Ed Murn(snapped yesterday) tells us his firm will add 1,400 new residential units(in addition to the 1,400 already there), new office and retail space, and four acres of new park space. He says Tower is in the project and subdivision plan approval process, and construction should begin by late summer/early fall 2014, as they seek to transform The Blairs (just minutes from the Silver Spring Metro) into another new vibrant transit-oriented development.
Ed says the property's existing zoning already allows for the number of units they hope to build. While some of the apartment towers on site will be unchanged by the new additions, the oldest resi buildings will be replaced with modern ones. As for whether the additional units could contribute to a market oversupply, Ed's not worried.Tower's looking long-term, excited by the job growth prospects the DC area will experience over the next decade. "We're not market timers--we build to hold assets for 50 to 60 years," he says. We'll follow up then. Or more likely you'll be able to just teleport there and see for yourself.
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