Kettler (formally KSI, Inc) has given into the slowdown taking a toll on the inflated residential market. Nationwide residential sales are down but there’s still hope left for the residential project that Kettler had planned for Silver Spring since 2004.

McLean, Va based Kettler recently removed signage from the condo sales office that never opened which was located at the intersection of Georgia and Thayer Avenues.

The Silver Spring project dubbed Midtown Silver Spring was planned to be part of Kettler’s Midtown brand of condominiums including, Midtown Bethesda North, Midtown Reston Town Center, Midtown Alexandria Station, Midtown Largo Station and Midtown North - Reston Town Center.

All is not forgotten. Home Properties which specializes in apartment communities, recently purchased the plans and site from Kettler. The firm will is sticking close to the original work, right down to the architecture according to Donald Hague, Vice President of Development with Home Properties.

This would be Rochester, NY based Home Properties third ownership in downtown Silver Spring and second purchase of a stalled project from a competitor. Back 2006 Home Properties purchased 1200 East West Highway from Centex Homes, it also owns the Falkland Chase complex that it wants to develop into 1,059 apartments and retail, including a Harris Teeter grocery store