"With dramatic growth across our multiple business units, we are taking the necessary steps to build the foundation for future expansion," says Judith A. McHale, Discovery's president and chief operating officer. With its new headquarters and a state-of-the-art facility for Discovery.com, the company's investment in relocating to Silver Spring from Bethesda will exceed $200 million.

The one-million-sf project is the heart of a revitalization effort for the town that spurred a joint venture between Peterson Cos. and Foulger-Pratt to start early on a $321 million town center that includes offices, shops, restaurants and theaters. Together the two projects will add about two million sf of commercial space.

A joint venture of Freeman Group and Stonebridge Associates will erect the building, which Discovery will lease for 15 years. Approximately 2,200 employees will move to the facility when it is completed in late 2002. The lease is particularly surprising because Discovery hasn't decided which of its businesses will occupy the site. "It's hard to predict what units are going into this building because it's really for future growth," says David Leavy, Discovery spokesman.