Watkins Mill Town Center

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EXECUTIVE SUMMARY

The Spectrum at Watkins Mill: This 40-acre, mixed use urban village will be located on the east side of I-270, bound by Watkins Mill Road to the south and Route 355 to the east. The Spectrum at Watkins Mill will provide space for 13 new restaurants, including five in freestanding buildings. The project is anchored by a retail building with a 25,000 square foot footprint which could accommodate up to 50,000 square feet of retail. The Spectrum will provide retail and restaurants to serve not only Watkins Mill Town Center but also the existing two million square feet of office and hotel space in the immediate area. It is located across Watkins Mill Road from Monument Realty's 700,000 SF Corporate Office Park. The first phase of that project, a 210,000 SF office building recently opened and is anchored by Provident Bank.

The project has easy access from Route 355. Watkins Mill Road Extension will provide additional access, a $10 million road project providing a 6- to 9- lane access road to I-270, will begin construction during Spring 2009 and is slated for completion in 2010.

The Spectrum at Watkins Mill will provide space for lifestyle retail and for 13 new restaurants, including five in individual freestanding buildings. At the heart of the project is Performers' Park, which will enable patrons using the outdoor cafes at surrounding restaurants to enjoy live performances. The park also will provide a gathering place for area art shows and other gathering events. About 380 multifamily units will frame the park. The project features a large wooded forest preserves and stream valley buffer, which offers a quiet green space for reflecting or picnicking. Restaurants located at Watkins Mill Town Center are entitled to a bonus liquor license under Montgomery County code.

The Spectrum at Watkins Mill also will be the home of Montgomery County's Sixth District Police Station and the new Gaithersburg Senior Activity Center.

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