The development will be adjacent to Walmart on Chantilly Parkway.
after getting approval from the Montgomery Planning Commission Thursday evening.
With a unanimous vote, city planners approved to rezone three parcels on the site near Walmart from commercial to multi-family residential. Cedric Campbell, of Goodwyn, Mills & Cawood, represented Lowe’s Home Center, Inc. at the public hearing. The home improvement chain planned to open a nearly 120,000-square-foot store on the property in 2010. Lowe’s eventually backed out and real estate agents haven’t been able to attract other tenants to the site.Campbell said One Real Estate Investment plans to purchase the property from Lowe’s. He added that monthly rent at the “Class A” development would be around $1,6000 - $1,7000.
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