$150M Mixed-Use Project Kicks Off in Suburban D.C.
- Jun 06, 2008
Work has gotten underway on North Bethesda Market, a 1.2 million-square-foot mixed-use project in Rockville, Md., about 20 miles from Washington, D.C. The JBG Cos., developer of the $120 million lifestyle center (pictured), is relying on Clark Construction Group to erect the walls and put on the roofs at the multi-structure development. Residential offerings will be the core of North Bethesda Market. Located just a block from a Metro station, the property will feature a 24-story tower with approximately 200 units and a six-story apartment building featuring 210 units. The site will also give rise to a significant amount of retail space, nearly 200,000 square feet. A 60,000-square-foot Whole Foods Market will occupy the ground level of the mid-rise apartment structure, and the first floor of the high-rise residential building will be home to a 50,000-square-foot fitness facility. Additional retail will be housed in a separate two-story structure with 36,000 square feet of space, and a remaining 57,000 square feet of retail will be distributed throughout the complex. All structures will sit atop five stories of underground parking. Designed by architectural firm HKS P.C., North Bethesda Market will undoubtedly stand out, literally, as the property’s 24-story apartment tower will be the tallest in Montgomery County. Clark is on schedule to wrap up the majority of North Bethesda Market’s construction in August 2010. The Bethesda, Md.-based builder is no stranger to mixed-use projects in the Washington, D.C., area; just last month, Clark commenced construction of Saul Centers Inc.’s $118 million Clarendon Center office, residential and retail project adjacent to a Metro station in Arlington, Va. “We’re doing a fair amount of mixed-use work,” a Clark spokesperson told CPN today. “It’s certainly a trend, but from more of a sustainable development standpoint than an economic standpoint.”Clark, a construction services provider for over a century, has in excess of $2 billion in annual revenue and major projects, and is a proponent of green development. Chevy Chase-based JBG owns, develops and invests in real estate in the metropolitan Washington, D.C., area. The company’s portfolio encompasses millions of square feet of office, residential, hotel and retail developments.