As the summer comes to an end, Montgomery Planning Board members and elected officials are making their way back to the office. That means the Board will start reviewing development plans while new plans move up the docket.
This roundup offers a summary of the latest real estate news and development plans coming to Montgomery County.
Mixed-use redevelopment project pitched near Forest Glen Metro station
JLB Partners company filed plans to construct up to 420,000 square feet of mixed-use development at a site located on the corner of Georgia Avenue and Forest Glen Road in Silver Spring. The proposed development would bring up to 5,000 square feet of new commercial space and 390 residential units, with 59 being moderately priced dwelling units (MPDUs).
The site is currently the home of the Forest Glen Medical Center. Plans propose a total redevelopment of the building, including the surface parking lot. Structured parking, public and private open space and streetscape improvements, such as adding plant beds, trees and a plaza are also part of the plan.
Planners envision the plaza as a public gathering space where commuters and residents of the apartment building and nearby neighborhoods can “interact, run errands, and enjoy a cup of coffee,” plans state. Commercial spaces will likely be located on street-level and hold service and retail businesses.
General Getty Neighborhood Park and Holy Cross Hospital are near the site and across the street is the Forest Glen Metro station. Through the project, developers hope to highlight the area’s transit features, according to the plans.
The plans were designed around the future construction of a new entrance to the Forest Glen Metro station. The $40,552,000 project will be constructed by the Montgomery County Department of Transportation, according to planning documents. The entrance will be a tunnel under Georgia Avenue that brings Metro riders directly to the station without having to cross the seven-lane road.
Montgomery Planning’s Development Review Committee will review the application on Sept. 12. The meeting will be available online on the Montgomery Planning’s website.
450-unit apartment building proposed for Battery Lane redevelopment project in Bethesda
Among several residential redevelopment projects poised for Battery Lane in Bethesda, one project proposes to bring a 12-story high-rise apartment building with 453 dwelling units in place of the existing four-story garden apartments. Gelman Companies and Kossow Management filed the sketch plans with Montgomery Planning.
According to planning documents, the project would bring up to 480,000 square feet of new residential space and include an array of amenities for residents, such as a roof-top recreation area, underground parking and public pedestrian connections to the Bethesda Trolley Trail and the National Institutes of Health campus, which is directly behind the site.
Through the project, developers are focused on making Battery Lane more walkable for the public with improved streetscapes, wider sidewalks and a new pedestrian path that will connect to the trolley trail.
More features on the project include open green space with a courtyard offering games such as cornhole and bocce, community gathering space and a plant screen along the building, planning documents show. Additionally, plans propose a rooftop pool and green roof to be included in the development.
The site is in Bethesda’s Battery Lane District, which runs from Woodmont Avenue to Old Georgetown Road. Residents and commuters in the area are steps away from Woodmont Triangle. The neighborhood features a handful of existing high-rise and garden-style apartments, a senior living facility, a several retail and commercial businesses, the Bethesda Urban Park and the B-CC Rescue Squad.
Apartment towers in Bethesda sell for $220 million
BisNow reported that Carr Properties sold a pair of high-rise apartment buildings, called The Elm, in Downtown Bethesda for $220 million. Carr Properties is a real estate development firm based in Washington, D.C.
The multi-million-dollar purchase was made by AIR Communities, a Denver, Co.-based property management company.
AIR Communities already manage three properties in Montgomery County: The Residences at Capital Crescent Trail in Bethesda and North Park and Willard Towers in Chevy Chase, according to the company website. AIR Communities also manage a handful of buildings in D.C.
The sale was about $79 million below the property’s latest assessed value, set at $299 million, according to property records.
Located on Wisconsin Avenue, The Elm is comprised of two 28-story residential towers with studio, one-bedroom, two-bedroom and three-bedroom apartments. The buildings are connected by a glass sky bridge. According to the building’s website, the rent ranges from $2,084 to $7,484 and the building features a rooftop pool, work lounges and fitness center.
Currently situated in the building’s offices are WTTG Fox 5 D.C., ProShares, WeWork, UBS Group and Enviva Partners. On the street-level, the building has a Tatte Bakery and is where the future Bethesda Purple Line station is planned.