Portfolio

North Bethesda Market

North Bethesda, Maryland


Market: Washington, D.C.

Type: Mixed-Use, Multifamily, Retail

Role: Development Partner

Status: Development completed in 2010

Pedestrian-friendly, mixed-use property one block south of a Metro light-rail transit station, approximately seven miles northwest of the District of Columbia.

Property Size

  • 411 rental apartments
  • 182,900 square feet of retail space

Local Population Density

  • 6,500 people/square mile

Highlights

  • Invested in the property through a venture with the property’s developer, The JBG Companies.
  • Developed four stories of rental apartments above the retail shops on the south and west sides of the property, the north side of which features a 24-story, glass tower that is the tallest residential building in Montgomery County, Maryland.
  • Located on Rockville Pike, two blocks south of the White Flint Metro transit station, which provides light-rail access for commuters to points throughout the Washington, D.C., metropolitan area.
  • Directly across Rockville Pike from the now-closed White Flint Mall, which is slated to be redeveloped as a town center with a mix of residential and commercial land uses.
  • The retail component, which is anchored by Whole Foods Market, draws from adjoining neighborhoods, the on-site residential community and the workforce in neighboring office buildings. LA Fitness, Arhaus Furniture and several restaurants serve as key tenants.
  • Sixty-two of the apartments (15% of the total built) are designated as affordable housing for low- and moderate-income residents.
  • Part of a multi-site portfolio of operating properties and planned development projects located in the Washington, D.C., metropolitan area that is jointly owned by MacFarlane Partners and The JBG Companies.

Awards & Honors

  • Named Multifamily Deal of the Year for 2010 by the Washington Business Journal.

Related Websites

 

Walk Score:  85     |    Transit Score:  68     |     Bike Score:  n/a