In North Bethesda, Phase 2 of the mixed-use Pike & Rose development is underway at 11580 Old Georgetown Road. It adds 645K SF of residential and 1.1M SF of nonresidential, including a 177-room Hilton Canopy hotel and an urban park, on 13 acres.
The completed, 24-acre Phase 1 encompasses 493 residential units and 341K SF of commercial development, including retail and Class-A office space. Outdoorsy types will be torn between the 23K SF L.L. Bean and 35K SF REI arriving at Pike & Rose, which, in the footwear domain, will have to further compete with the Nike Factory Store that opened in August.
Two Bethesda-based developers are planning a $650M mini-city along Shady Grove Road in Rockville. On its front 12 acres, the development will feature up to 1,600 apartments spread over 600K SF, plus 200K SF of office, 100K SF of retail and a 100K SF hotel together comprising 1.3M SF of mixed-use development.
The developer plans to allocate the remaining 18 acres exclusively to residential with up to 300 townhomes. Developers say on-site activity will not commence until 2018 and that the project will take between seven and nine years to complete.
Click here to read the rest of the article written by Alec Berkman over at Bis Now