LCOR, JBG: More Density in North Bethesda

LCOR plans to break ground before the end of the year on its third building - a 19-story, 341-unit apartment - within its recently enhanced North Bethesda Center. Construction of the residential building, the "Aurora", will commence before the end of the year, confirms LCOR's vice president Mike Smith.

JBG is also looking to begin construction on its own North Bethesda project - North Bethesda Market II (NoBe II, rendering to the right) - shortly after the first of the year. JBG's 4.4-acre site plan was submitted on August 24th and is now under review. JBG development executive Greg Trimmer indicated that the developer is just waiting on the county. "We are cautiously optimistic we will get full site approval early in 2012, and plan to begin construction immediately [after approval]."

NoBe II is located north of JBG's North Bethesda Market; there could be a III and IV as JBG owns more land to the south and west of the two sites, but for now, NoBe II is its sole focus in the area. NoBe II will be completed in one phase, taking 2-to-3 years, said Trimmer.

Meanwhile, LCOR's focus for the moment, the Aurora (rendering below), was designed by WDG, and will be built by BE&K; the building's site plan hearing will be held on the 22nd.

Both LCOR and JBG tacked on significant density to their North Bethesda projects in the past year, after the White Flint Sector Master Plan was passed by the Montgomery County Council in March of 2010.

Due to the increased zoning envelope permitted by the new White Flint Sector Plan, LCOR upped the square footage of planned construction on its 32-acre site by 40 percent: from 2.7 to 4.5 million square feet. JBG did the same, also increasing its F.A.R by 40 percent: from 2.4 to 4.0.

Revisions to LCOR's development have been a joint effort, having partnered with FX Fowle earlier this year. FX Fowle was brought on to assist with creating a new, enhanced vision for North Bethesda Center and give it a "fresh look," said Smith.

The enhanced North Bethesda Center plan by LCOR and FX Fowle is for approximately 1.4 m s.f. of office, 310,000 s.f. of retail, 2.4 m s.f of residential, a 350,000 s.f. hotel, and a 15,000 s.f. library. Initial plans by LCOR were to construct eight buildings on site, however Smith said that now the development team aims for "up to 10 high-rise buildings for the property." A Site Plan for 7.4 acres (3 parcels) of the development was submitted on July 29th and is now under review.

Both Trimmer and Smith applauded the foresight of Montgomery County in passing the new Sector Plan last year. Trimmer also gave his company, JBG, a nod, when questioned whether creativity was more apt to flourish on projects located outside of the District; Trimmer said, "I have to credit JBG. We've made a distinct strategic decision to increase the distinctiveness of our architecture and differentiate our projects."

What Trimmer refers to at the moment, North Bethesda Market II (pictured above), was designed by Studios Architecture and is comprised of a "striking" 339-unit residential tower (300-feet tall, surpassing its own accomplishment to the south), a 6-story office building, theater, restaurant, two retail spaces and a public plaza.

Other developers with investments in the area, and looking to go dense are: Federal Realty, with its 24-acre Mid-Pike Plaza (Site Plan for 16.3 acres was submitted on August 3rd) and Promark, with its 11-acre North Bethesda Gateway (no Site Plan submitted yet).

In January of this year, the Montgomery County Planning Board approved the sketch plans for all three of the aforementioned projects: North Bethesda Market II, North Bethesda Gateway and Mid-Pike Plaza. The sketch plan submission is a relatively new step in the approval process (not as exciting for developers) that came with the new White Flint Sector Plan.

Trimmer added, "White Flint is a very good development opportunity; it has strong existing amenities and a large portion of underutilized land."

Another reason developers might eye the North Bethesda area is the 10-percent commercial property tax increase (part of the new Sector Plan) that will help finance an estimated $208 million in construction (and infrastructure improvements) during its lifespan. Last December, Montgomery County officials projected that new growth in the White Flint area could bring in as much as $6.8 billion.

update: Greg Trimmer with JBG, not Trimmen

Washington D.C. real estate development news

NoBe Gateway: White Flint Blowin' Up

After receiving positive feedback from the Montgomery County Development Review Committee, developers of "North Bethesda Gateway" in White Flint expect their Sketch Plan to go before the Planning Board sometime in January, marking the beginning of what will likely be a multi-year public approval process. While construction, or even detailed architectural renderings, are some time off, developer Hilary Goldfarb of ProMark Real Estate Services says even the first nibble of action is "very exciting." The project involves a unique partnership of three local property owners (Jack Fitzgerald, Lake Waverly, and JWW) who've joined forces in the planning process in order to maximize entitlements and enable the transfer zoning rights amongst their separate parcels. As the plans stands, roughly 11 acres of office buildings and surface parking lots will be redeveloped into nearly two million s.f. of retail, residential, and office space in compliance with the White Flint Sector Plan.

The Sketch Plan is a rather new requirement in the Montgomery County Planning process that further drags out the frustration of developers, but extends the tantalizing spectatorship of real estate development junkies. Goldfarb explained it as literally the "very first step in a several year process." Although the Sketch Plan only offers a basic understanding of the overall development concept, with many details likely to change, it also provides an interesting chance to witness a development project slowly transform from a zygotic aerial diagram (this one drawn by architects at WDG) to full-grown actuality (one hopes). Upon completion of the first two phases of North Bethesda Gateway, developers intend to deliver three office buildings, a hotel, extensive ground-floor neighborhood retail options, and a variety of rental and condominium housing opportunities situated in three distinct multifamily buildings. Developers seek to create a pedestrian friendly atmosphere with this redevelopment; by including several large public plazas in their plans, streetscape improvements, and extensive landscaping, the project will provide a walkable transition from the White Flint Metro to White Flint Mall.

Given that the development site is adjacent to the White Flint Mall, White Flint Plaza shopping center, and less than a quarter mile from the White Flint Metro, as well as bounded by Rockville Pike with the North Bethesda Marketplace just across to the West, developers believe they have the epitome of a transit-oriented urban infill project in the works. The development, though still in the embryonic stages, joins a wealth of activity in the area's development pipeline. JBG's North Bethesda Phase II, and Federal Realty's Mid Pike Plaza are in line on the train of development that Goldfarb insists will eventually make White Flint "the economic engine of Montgomery County." Chew on that Bethesda.

Montgomery County, MD Real Estate Development News