New Residential/Retail Project Secures Rockville (Md.) Approval
April 23, 2012
A residential and retail project to be developed by The JBG Companies and MacFarlane Partners has gained the approval of the City of Rockville (Md.) and is one step closer to anchoring the west side of the Twinbrook Metro station with an exciting mix of retail and residential land uses.
The newly approved project will transform the site at 1800 Rockville Pike from a one and two-story shopping center surrounded by surface parking into a sustainable, transit-oriented community consisting of 356 apartments above a Safeway grocery store, restaurants with outdoor seating, and other neighborhood-serving retail.
Designed by noted architectural firm Hord Coplan Macht, the planned development already has been recognized by the Washington Smart Growth Alliance for its environmentally responsible design. The pedestrian-friendly project will be located within 500 feet of the Twinbrook Metro station, which provides access to light-rail transit to points throughout the Washington, D.C., metropolitan area. Two levels of below-grade parking will make the property convenient for car-owning residents and shoppers.
Safeway will occupy approximately 60% of the nearly 100,000 square feet of retail space that will be built. The grocery space will be similar to recently opened Safeway stores in the District of Columbia and Olney, Md., and is anticipated to include a Starbucks, a Bergman’s Dry Cleaners, a pharmacy, a deli/bakery and a florist.
The project is the first to be approved in Twinbrook under Rockville’s new mixed-use transit district zoning guidelines and will continue to help transform the area into a walkable neighborhood. The JBG/MacFarlane partnership already has a presence in the area, having completed The Alaire at Twinbrook Station, a rental apartment community on the east side of the Twinbrook Metro station, in 2010.
Both properties are part of a multi-site portfolio of operating properties and development projects located in the Washington, D.C., metropolitan area owned by the JBG/MacFarlane venture. JBG is one of the region’s leading real estate companies.
MacFarlane Partners made the investment on behalf of MacFarlane Urban Real Estate Fund II, its institutional real estate fund that invests in development, redevelopment and repositioning projects in urban and high-density suburban areas nationwide.
Click here to read the press release issued by The JBG Companies on April 23, 2012.
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