A former office building at 700 Roeder Rd. in Silver Spring is being converted to 35 condos, according to information provided to the Source from Kadida Development Group, a partner in the project.
Plans for Elan, as it will be known, include the creation of five studio-size units, 25 one-bedroom and five two-bedroom units. Pricing is expected to range from about $199,000 to the low $400s, KDG said.
The units will include stainless steel appliances, quartz counter tops, Kohler and Delta fixtures, and porcelain tile. The building will have a secure lobby with package service, co-working spaces, and industrial-size washers and dryers, in addition to in-unit washers and dryers.
The building was sold in April 2019 for $4.4 million to Roeder Road LLC, a partnership between Washington, D.C.-based KDG and Bethesda architects SGA COS.
KDG, founded in 2008, is “a real estate investment and development company that specializes in building luxury properties in the Washington D.C. area,” according to the company website.
Its portfolio includes properties in the District and Northern Virginia. Elan is KDG’s first project in Montgomery County.
“There has been a severe lack of inventory for new, for-sale product in downtown Silver Spring,” said Tom Kadida, KDG’s principal, “so coupling that with a fantastic location, a continuously growing population and the ability to provide an attractive option for first-time homebuyers, we are confident this project will be a success.”
Units will be offered for sale this fall, with delivery by the end of the year.
Elan’s website includes a holding page with a link for potential buyers to sign up for updates.
Photo by David Lay