On January 25, 2011 Gaithersburg elected officials and staff joined representatives of Archstone, the Department of Housing and Urban Development, and other community leaders in a ceremonial ground breaking for Archstone at Olde Towne, an exciting new transit-oriented residential property slated to open in the Spring of 2012.  The 389-unit, five story rental development is a key part of the ongoing revitalization of Olde Towne Gaithersburg, the City’s historic center.

City Officials, representatives of Archstone and officials from the Department of Housing and Urban Development break ground on the new Archstone at Olde Towne development in Gaithersburg

Speaking at the event from Archstone was Rob Seldin, Senior Vice President of Development for the East Region.  As part of their commitment to being a partner in the Gaithersburg community, Archstone presented a $25,000 donation to the Gaithersburg Police Foundation, supporting local public safety initiatives.

Rob Seldin (center) presents a $25,000 check to the Gaithersburg Police Foundation, accepted by Police Chief Mark Sroka (left) and Foundation President Keith Bryan (right)

In his remarks, Gaithersburg Mayor Sidney Katz commented on the treasured history of Olde Towne, which became the City’s commercial center with the coming of the railroad in 1873.  The Mayor praised Archstone for a beautiful design that honors Gaithersburg’s historic past and yet adheres to modern smart growth principles with its access to public transportation, jobs and other amenities in the area.

Commenting on a resurgence of development projects throughout the City, Gaithersburg City Manager Angel Jones praised elected officials and staff for a commitment to making economic development the City’s primary focus.  “With every step we take, we now ask ourselves, ‘How does this improve our economic environment?’  With the Archstone at Olde Towne project, we are no longer talking about what we plan to do, we are taking action,” Jones remarked.

The Archstone at Olde Towne project received Maryland Smart Site Designation in the fall of 2010 because it illustrates best principles in smart growth, including compact, walkable and mixed use community designs providing residents with access to jobs, transit and a variety of housing choices.  The development is also within a Maryland Enterprise Zone, providing property and income tax credits to help Olde Towne realize its revitalization goals.

For more information on development projects in Gaithersburg please visit City or contact the Planning and Code Administration at 301-258-6330.