Silver Spring is a 360 acre Central Business District(CBD) centered on a Metro Station. The area is a high density urban environment with a population density of 15,600 per square mile. The CBD contains 17.6 acres of parkland, 7,254,729 square feet of office space (2004), plus 5216 dwelling units.
The transformation of the Silver Spring Central Business District began to take shape with two events: (1.) the American Film Institute established an east coast presence in the restored historic Silver Theatre, and (2.) the world headquarters of Discovery Communications, Inc. relocated to a new building in the center of Silver Spring. With a string of opening events for new businesses in the Redevelopment Project, the revitalization of downtown Silver Spring was established in 2004. The Downtown Redevelopment Project built a retail/entertainment base that attracted WholeFoods Market, the 20 screen megaplex cinema The Majestic by Consolidated Theatres, Borders Books and Music, supported by menís wear, dress, and furniture shops. The combination of 4500 theater seats surrounded by 4500 dining seats in a dozen new restaurants has created an environment that is in high demand.
Montgomery County continues to support the redevelopment of downtown Silver Spring with important projects. more...
More than 5000 units of rental housing provide a solid residential base for downtown Silver Spring. Another 2000 units of rental apartments are located just outside the CBD but immediately adjacent. Surrounding neighborhoods of single family detached and townhouse homes offer homeownership in a variety of styles and sizes. more...
The Silver Spring Enterprise Zone allows the state to issue property tax credits on any new expansions, renovations, or capital improvements to non-residential properties. Income tax credits are available for businesses in downtown Silver Spring with newly hired employees. more...