For Immediate Release: Friday, December 15, 2023

County Executive Marc Elrich, County Council President Andrew Friedson and County Council Vice President Kate Stewart joined with United Therapeutics Corporation today to announce a partnership for future growth and long-term vision for Downtown Silver Spring. The partnership includes a general development agreement between the County and United Therapeutics that will allow for the company’s future growth in Silver Spring and provide significant benefits to the County. This deal, valued at over $100 million, will eventually expand United Therapeutics’ campus footprint in Downtown Silver Spring 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,” said County Executive Marc Elrich. “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.”

Under the agreement between Montgomery County and United Therapeutics, the first publicly traded biotechnology company organized as a public benefit corporation, United Therapeutics will construct a new public parking garage at 8615 Georgia Avenue, provide land and funding to the County for a state-of-the art fiber hub, and relocate Montgomery County’s Department to Transportation’s (MCDOT) parking operations facility to a renovated facility at 9150 Brookville Road. The site of the new parking garage includes a parcel designated for a future affordable housing development in Silver Spring.

If approved by the Montgomery County Council, upon completion of the new garage, ownership of the site will transfer from United Therapeutics to the County.  In exchange, the County will transfer ownership of 8700 Cameron Street, the current site of the Spring Cameron Parking garage, to United Therapeutics to allow for the company’s future growth. United Therapeutics will be required to invest at least $50 million in any new facility on the site within fifteen years of ownership transfer.

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