New Parking Garage in Silver Spring Will Open February 21st

New Parking Garage in Silver Spring Will Open February 21; Parking Free Until February 27

A parking garage, located below the new Galaxy Apartments in Silver Spring at 8025 13th Street, will open to the public on February 21. Parking will be free until February 27 when payment at Silver Spring parking rates will be required. The garage is part of a public-private partnership that created a 195-unit, five-story apartment building with 82 affordable units and an underground parking garage on the site of a former County surface parking lot. The garage has a total of 368 parking spaces, of which 160 are available for public parking and 208 are set aside for Galaxy residents.
The Galaxy was developed by RST Development in partnership with the Montgomery County Department of Transportation, Division of Parking. Other agencies participated in the financing of the project, including a tax-exempt bond mortgage of $38.5 million from the Montgomery County Housing Opportunities Commission and a $5 million loan from the Montgomery County Department of Housing and Community Affairs Housing Initiative Fund. The County also provided a Payment in Lieu of Taxes agreement and the Maryland Department of Housing and Community Development provided low-income housing tax credits.
Parking rates at the new garage, known as Garage 16, will be 75 cents an hour for short-term parking of four hours or less and 60 cents an hour for long-term parking of more than four hours. Parkers also have the option of using a Parking Convenience Sticker (allowing unlimited parking on any all day meter in Silver Spring), which costs $113 a month, or a Daily Parking Permit for $7.20 a day.
To view all the public parking options available in Silver Spring, go to the County’s website at www.montgomerycountymd.gov/parking.