Neighborhood Development Co. and the Takoma Park-Silver Spring Co-op have reached a deal that will finally advance construction of the Takoma Junction mixed-use project while ensuring the co-op can continue to operate unabated.
“Both parties engaged in the mediation in good faith, recognizing that the nature of such negotiations requires compromise,” according to a joint statement issued by NDC and the co-op. “While neither party got everything it wanted, they agreed on terms that provide benefits to both.”
As part of the deal, NDC will construct a lay-by — a shallow driveway off to the side of a road that allows for vehicles to pull over — in the first stage of construction. The co-op will be provided access to the parking garage and to an elevator, sized for customers and their carts, that NDC will repair and maintain. The co-op has agreed that it will not rent space in Takoma Junction at this time, and that it will not put up any more fight against the project.
NDC signed…Read the full story from the Washington Business Journal.