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Silver Spring, one of Montgomery County’s most vibrant and attractive communities, features an urban commercial center surrounded by conveniently located, comfortable, and beautiful neighborhoods. Silver Spring regularly attracts regional and national attention, as new stores and restaurants, world class entertainment facilities, and businesses of every variety decide to start or expand here. And with a population of more than 500,000 Silver Spring is one of the fastest-growing places to shop, eat, and live. Greater Silver Spring encompasses a large portion of southern and eastern Montgomery County. Bordered by Washington, D.C. to the south, Prince George's County to the east, and Howard County to the north, and served by major highways, Metro, and three major airports, Silver Spring's location and amenities make it a sought-after location in which to live and work. Silver Spring has one of the strongest real estate markets in the Washington, D.C. metropolitan area because of its recent revitalization and development. Its residential communities, in both established and newly developed neighborhoods, offer many choices in housing, including luxury and garden apartments, condominiums, town houses, and single family homes in close proximity to the Metro and shopping. Both downtown Silver Spring and the Route 29 corridor have become centers of economic development. The downtown area has attracted telecommunications, healthcare, technology and real estate development companies, as well as government contractors, consultants, lawyers, and trade and professional associations. The Route 29 Corridor, located northeast of downtown Silver Spring, has attracted many large, health and technology-oriented companies. Among the draws: the new U.S. Food and Drug Administration headquarters in that area, which will bring many more people and businesses to the greater Silver Spring region. Downtown Downtown Silver Spring is the result of a Renaissance of new development. More than $450 million in public investment attracted some $2.0 billion in private dollars to revitalize the core of this urban area. The heart of downtown Silver Spring includes community and regionally oriented shopping, the AFI Silver Theatre and Cultural Center, and a 5,000 seat, first-run movie complex, as well as restaurants, offices, hotels, and parking facilities. Among the companies calling downtown Silver Spring home are Discovery Communications and United Therapeutics, which is in the midst of a three stage expansion of its world headquarters. Construction is also underway for a 42,000 square foot Silver Spring Civic Building and Veterans Plaza that includes an ice skating rink, which will create a new community gathering place just steps away from Silver Spring’s retail, restaurant and entertainment options. The Civic Building and Plaza are expected to open sometime in 2011. Indeed, culture and the arts are emphasized in Silver Spring. Downtown is the venue for a variety of local, regional and even international events that bring a richness to the community. The AFI Silver Theatre and Cultural Center is a Washington D.C. regional success story, bringing a little of Hollywood to downtown Silver Spring. With its state-of-the art facilities, the AFI Silver is considered the best theatre in the United States. Showcasing the best film has to offer, “The Silver” has become a mecca for entertainment in the region. In cooperation with Discovery, AFI hosts the annual SILVERDOCS International Film Festival that attracts more than 15,000 filmmakers and luminaries from all over the world each June. The Silver Spring Jazz Festival, just five years old, and hosted each fall in the heart of Silver Spring, has become an annual marquee event for Silver Spring, drawing music-loving audiences of more than 20,000 from not only Silver Spring, but throughout Maryland, neighboring Washington, D.C., Virginia and even Pennsylvania. With a blend of instrumental jazz and smooth vocals, it has featured world-renowned headliners such as Wynton Marsalis in 2005, Spyro Gyra in 2006, and Grammy and Emmy winner Arturo Sandoval in 2007. In addition, the Silver Spring Swings Outdoor Summer Concert Series, the Magical Montgomery Cultural Fair, and the Montgomery County Annual Holiday Parade all bring countless locals together for fun and culture. A new dimension to the entertainment scene was added in 2009 when Montgomery College opened its new Silver Spring/Takoma Park Performing Arts Center. The center, which includes a 500-seat dance and music theatre with state-of-the-art stage and acoustics, is designed to feature a variety of cross cultural performance and events for all ages. In addition to the Civic Building and Veterans Plaza, the Silver Spring Metro station is being expanded to include MARC commuter rail, bus, and bicycle commuters in the new Paul S. Sarbanes Transit Center, currently under construction. Private development is planned above the transit center that will include residential units, retail shops and a hotel. Adjacent to Montgomery College, South Silver Spring is transforming into an appealing neighborhood, with high tech businesses, arts oriented enterprises, new restaurants and over 1,000 new housing units. History of Silver Spring The Silver Spring area has certainly changed and grown since the first “Silver Spring” was actually found in what is known today as Acorn Park. Legend has it that in 1842, Francis Preston Blair was riding on his horse, Selim, outside of Washington, D.C. when he was thrown from his horse. Blair chased Selim through the woods and discovered a beautiful spring located close to an acorn tree. The spring was speckled with mica, which sparkled like silver as it flowed. Blair bought the land near the spring and built a home that he named “Silver Spring.” Selected Silver Spring Area Demographic Information Demographic Comparison: 2006 – 2011 (based on most recent census data) In 2006, the population within a five mile radius of Silver Spring’s Central Business District was more than 543,000 people. In 2011, the population within five miles is expected to increase to over 553,000. Silver Spring’s average household income in 2006 was over $85,000, and is expected to rise to over $93,000 in 2011. In the seven mile radius of Silver Spring’s Central Business District, there are more than 660,000 adults over 25 years old. Of those people, four percent have earned an Associate Degree, 24.8 percent a Bachelor’s degree, and 30.1 percent a Graduate Degree. The Greater Silver Spring Chamber of Commerce thanks The Peterson Companies for sharing this demographic information. |
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