Having secured rezoning approval last September from the Montgomery County Council, Hampden Lane Associates LLC has submitted its proposed plans to build a new seven-story, 60-unit condominium in the northeast quadrant of Hampden Lane and Arlington Road on the lots now occupied by five single-family homes (now used as commercial offices) at 4913-4921 Hampden Lane. Nine of these condo units will be moderately priced dwelling units (MPDUs). The Hampden Lane plan, just two blocks from the Bethesda metro, will join a number of new residential projects in the downtown Bethesda area, including the renovated Chase (377 condo units), the Bethesda Row extension (180 rentals), 7001 Arlington Road (111 condo units), and 4901 Hampden Lane (70 condo units). With this project moving forward, the county, which originally planned to build a 12-unit homeless transitional housing project on the site, will now construct this transitional housing adjacent to the future Hampden Lane condo structure.
Monday, January 29, 2007
New Hampden Lane Condo in Bethesda Moves Forward
Having secured rezoning approval last September from the Montgomery County Council, Hampden Lane Associates LLC has submitted its proposed plans to build a new seven-story, 60-unit condominium in the northeast quadrant of Hampden Lane and Arlington Road on the lots now occupied by five single-family homes (now used as commercial offices) at 4913-4921 Hampden Lane. Nine of these condo units will be moderately priced dwelling units (MPDUs). The Hampden Lane plan, just two blocks from the Bethesda metro, will join a number of new residential projects in the downtown Bethesda area, including the renovated Chase (377 condo units), the Bethesda Row extension (180 rentals), 7001 Arlington Road (111 condo units), and 4901 Hampden Lane (70 condo units). With this project moving forward, the county, which originally planned to build a 12-unit homeless transitional housing project on the site, will now construct this transitional housing adjacent to the future Hampden Lane condo structure.
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8 comments:
man, bethesda is really about to become a much more happening spot.
It's a bit much - adding all these new units in a matter of 2-3 square blocks. But I guess they need more people for all the restaurants already there. Trouble is, I am not seeing any accompanying road changes to handle this influx - will be interesting to see the traffic mess coming soon along Arlington and Woodmont ....
As far as I can tell, the condo developers in Bethesda are finding it much harder than expected to sell units. There are so many new condos in the works...the Adagio, the Lions-Gate, the Trillum (or whaverit it called), now this. I can believe there is demand for these units, but not at the prices the developers have been asking.
I can't agree with the last 2 comments. Traffic on Wisconsin could not be worse, but all the development is within walking distance to the Metro, and Bethesda is fully mixed-use, so you could actually live, work & shop there. Its a city-planner's best-case scenario. "More roads" was the solution of the '70's that's killing us now. Compared to the 'town centers' being created overnight - a great idea but sometimes a little plastic-y - Bethesda at least has some heart to it.
I would normally agree with Ken's take on Bethesda and the metro access, as up to now the '80s and '90s development there focused on moderate income, worker folks. But the new developments will be aimed squarely to more upscale, affluent folks who, to be honest, don't take the metro. With this new wave of driving-oriented residents, I think we might start to see the quaint narrow streets around Bethesda Row get congested fast.
Interestingly, this project is one of two new projects on Hampden Lane. The other, just next door, by Triumph development, will add about the same number of units (and congestion). Anything resembling underused or vacant land in Bethesda is fair game.
The problem in Bethesda is that everyone is chasing the same buyer, the affluent empty nester. A limited pool of $750k/$1m+ condo buyers have ample choices in the metro area, let alone Bethesda. The market is saturated with this product segment, hence the slow/poor sales at Lionsgate, Trillium, and most other high-end development in the metro area.
Wow, this will be awesome - an empty nester gets to spend $750 - $800 psf and live next to a homeless shelter - this is a slam dunk.
And yes, Mr. X nailed it, there is probably 27 years of supply of ultra luxury condos on the market in Bethesda right now.
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