The 11-acre site of a long-planned residential development in Laurel sold Friday for $8.5 million, the new Rockville-based owner said.
The new owner, Cohen Siegel Investors, LLC, plans to start work on the first phase of the Hawthorne Place project in “early fall,” using designs approved under the previous ownership, said company owner Alan Cohen. The first phase involves 296 multi-family units and "ancillary" commercial space, according to a news release from Cushman & Wakefield of Maryland, Inc., which arranged the sale.
The estimated cost of the first phase is $60 million, Cohen said.
Hawthorne Place, located at 9007...