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CBG Closes on High-Rise Project in Silver Spring

11-Story, Mixed-Use Community to Include 399 Luxury Apartments and Amenities
September 20, 2016

SILVER SPRING, Md.—CBG Building Company closed today with first-time client Fairfield Residential on Studio Plaza, an 11-story, 399-unit, mixed-use community in downtown Silver Spring. The high-rise will feature 10,000 square feet of retail space in addition to an underground parking garage with 152 public spaces for Montgomery County and 323 private spaces for residents.

CBG Closes on High-Rise Project in Silver Spring Press Release Image

Thayer & Spring

The transit-oriented community is located within walking distance of the Silver Spring Metro Station, which provides access to Washington, D.C. via the Red Line. Designed by WDG Architecture, Studio Plaza will feature a variety of floorplans for one- and two-bedroom units, and offer an amenity-rich lifestyle for residents.

The community will host a cyber cafe, fitness center with yoga room, rooftop pool with outdoor lounge, large courtyard with ample greenery, and one of downtown Silver Spring's largest public outdoors spaces - a three-quarter-acre plaza at street level with outdoor cooking and seating.

"We are excited to begin work on Studio Plaza with first-time client Fairfield Residential," said Keith Anderson, president of CBG. "We have been working on the preconstruction piece for this project for more than two years. We managed to hold our price throughout that time period, which is a testament to great working relationships with the owner, the design team, and our subcontractor partners."

Targeting LEED Silver certification, Studio Plaza will feature water-efficient landscaping and low-flow fixtures to reduce overall water usage. The community will also divert 75% of all construction waste, utilize recycled and regional materials, and use low VOC paints and caulks. Scheduled for completion in April 2019, Studio Plaza marks CBG's third project constructed in Silver Spring.

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About CBG Building Company

Through a relentless pursuit of innovation, a steadfast commitment to quality, and active collaboration with clients, CBG has been delivering award-winning communities from coast to coast for more than 25 years. CBG's professional construction team builds more than 4,000 homes each year, providing high-quality, responsive service backed by a significant bonding capacity and national resources. CBG's experience spans a diverse portfolio of geographic areas and product types, including luxury, mixed-use, and affordable housing apartments, as well as campus housing, military family communities, and senior living facilities. Together, we draw on the knowledge gained through building more than 80,000 housing units since 1992. For more information, visit www.cbgbuildingcompany.com.

About Fairfield Residential

Fairfield Residential Company LLC, a real estate company, provides acquisitions, entitlement, development, construction, renovation, property and asset management, and disposition services to joint venture affiliates and third party entities in the United States. It offers luxury apartment homes, university student housing, tax credit affordable housing properties, and renovated apartment homes in urban and suburban infill neighborhoods, as well as mixed-use and transit-oriented attached housing communities. Fairfield Residential Company LLC was founded in 1985 and is based in San Diego, California with regional offices and administrative or specialty offices throughout the United States. For more information, visit www.fairfieldresidential.com.

About WDG Architecture

WDG provides architecture, master planning and interior design from its offices in Washington, DC and Dallas, TX. The firm's award-winning work can be found in major metropolitan areas around the United States as well as overseas. The company employs a staff of more than 120 and has produced more than 500 major buildings, including commercial office, multifamily residential, higher education, institutional, hospitality, and mixed-use projects since its inception in 1938. For more information, visit www.wdgarch.com.