Press Releases
KSI Services Seeking Final Approval from Montgomery Couinty to Construct Midtown Silver Spring
Complex will consist of two 20-story towers with 315 Units
April 21, 2006
KSI Services, Inc., one of the DC metro area’s top mixed-use residential and commercial developers, is seeking approval from Montgomery County officials to construct Midtown Silver Spring, the newest in their line of high-end condominium projects bearing the ‘Midtown’ brand. Midtown Silver Spring, when completed, will be the tallest structure in downtown Silver Spring. It will consist of two 20-story towers offering a total of 315 homes and is expected to be a $100 million investment. If KSI receives approval on the project, construction could begin this fall with expected delivery in late 2008 or early 2009.
Silver Spring has benefited recently from $1 billion in public sector improvements and much more in private-sector development.
‘The whole downtown Silver Spring project has been tremendous,” stated Don Hague, the vice president of multifamily development for KSI. “Several years ago, KSI began to focus on transit-oriented developments and when we had the opportunity to acquire this parcel, we jumped at it.”
Midtown Silver Spring will have a pool on the roof, a substantial fitness center, game room and a conference area designed for those with home-based businesses. It is further expected that many of the partnership amenities that KSI offers in their other properties will be available to residents. This could includes, American Express, VIPdesk, Flexcar and Restoration Hardware among others.
In addition, KSI is committed to reserving 40 of Midtown Silver Spring’s homes for affordable housing. KSI is the largest manager of affordable housing in the Washington metro area. Prices will not be set until closer to delivery. KSI should open its sales center this summer.
About KSI Services, Inc
Based in Northern Virginia, KSI is a leading developer of award-winning, mixed-use residential and commercial properties across the Washington Metropolitan area. In 2006, KSI was named one of the areas largest private companies by the Washington Business Journal. KSI has developed more than five million square feet of commercial space and more than 50,000 homes. Current projects include urban and transit-oriented developments, multifamily housing, commercial and mixed-use developments and golf courses. Robert C. Kettler, a third-generation builder and developer, founded KSI in 1977.
