Silver Spring Development Has 'Upside Potential'
A business special of the Washington Post puts the neighborhood in the second-tier of development "boom" potential.
What kind of "boom" potential does Silver Spring have? According to a ranking from the Washington Post's Capital Business section, downtown is in the middle tier of DC-area boom towns.
Evaluating 18 neighborhoods in the District, Maryland and Virginia, the Post called on real estate scholar Christopher B. Leinberger to rate the growth potential of each area. Strong potential is noted with a "blue chip" label, followed by areas with "upside potential," or moderate potential, and then areas that Leinberger said had weak potential were called "lagging."
According to Leinberger, Silver Spring has "upside potential."
Here's what was written:
The most racially diverse of the region’s urban neighborhoods, Silver Spring’s downtown has achieved a massive turnaround, one that could alter the rather poor performance overall of its residential, retail and office properties. Rents per square foot: $27.61 office; $24.06 retail; $22.06 apartment.
In Maryland, White Flint and New Carrollton were given the same designation. Wheaton was labeled "lagging" and no Maryland neighborhoods earned the "blue chip" label. Columbia Heights and NoMa in DC were two of the areas that came out on top in this article.
Leinberger has previously studied Silver Spring, noting the area's economic stimulus without a significant change in ethnic diversity.