United Therapeutics plans to expand once again in downtown Silver Spring, with a newly proposed deal worth over $100 million with the county.
The expansion will include a new parking garage, retail space, and land for affordable housing, increasing UT’s downtown Silver Spring footprint by 40 percent.
“The partnership and agreement we are announcing today will provide significant benefits to County residents, usher in an era of economic growth in Silver Spring, and further solidify Montgomery County’s leading biotech, life sciences and research economy,” County Executive Marc Elrich said.
“United Therapeutics Corporation is revolutionizing healthcare through the development of manufactured organs for transplant. We are committed to the company’s future growth in Silver Spring, and I look forward to working with the County Council through the property disposition process.”
According to a press release, Montgomery County and UT have reached an agreement for the construction of a new public parking garage at 8615 Georgia Avenue. Additionally, the company will provide land and funding for a state-of-the-art fiber hub, as well as relocate the county’s Department of Transportation’s parking operations facility to a renovated location at 9150 Brookville Road.
