More than a year into construction of a new 23-story office and residential building in Bethesda, a developer has proposed modifying the project to include 80 short-term rental units.
In August 2018, Carr Properties began work on The Wilson and The Elm, which was expected to hold 456 apartments and office space. The two residential buildings sit at the future intersection of the Red Line Metro and a Purple Line light-rail station.
Updated development plans, submitted this week with the Montgomery County Planning Board, include the same number of units, but designate 80 units as “executive housing” to be rented for terms shorter than 30 days.
The short-term rentals will be “full dwelling units comparable to all of the units in the building” and will be fully furnished, according to documents submitted to the Planning Board.
A developer says having the National Institutes of Health and Walter Reed Medical Center nearby drive the demand for the rentals.
“These units are typically rented by residents who are being relocated, may have long-term consulting engagements with their employer, are present in the area for temporary medical or educational purposes, are renovating their own home, are in the process of separation or divorce, or otherwise want to move to or remain in Montgomery County but do not want a long term lease,” Planning Board documents say. “Applicant will be making a significant investment in furniture, other physical features and operational arrangements including management services to accommodate these residents.”
A date for Planning Board consideration has not been set, according to online records.
News company Fox 5 is scheduled to move into some of the building’s office space in June 2021.
In November, the Montgomery County Council approved a $500,000 grant to encourage the business’ relocation to Bethesda. Under the agreement, Fox 5 must have at least 178 full-time employees and keep its headquarters in the county for at least 10 years.
Caitlynn Peetz can be reached at caitlynn.peetz@moco360.media