After years in the works, Federal Realty's ambitious 24 acre, 1.5 million SF project at Rockville Pike and Old Georgetown Rd (for which Mid-Pike Plaza was demolished) is taking shape.

The latest news is that Bank of America Merrill Lynch just inked a 40k SF, long-term lease for the top two floors of the first office building. Federal's Evan Goldman (third from left, if you squint) tells us activity is high for the remaining 40k SF of office, due to a unique rooftop amenity package—3,000 SF that serves as a conference center during the week, and a 250-seat music venue on Thursdays, Fridays, and Saturdays. Evan's joined here on the Pike & Rose site by Federal colleagues Valde Kuzdal, Robin McBride, Vanessa Rodriguez, George Stamatakos, and Tommy Mann.

Here's a rendering of the office building, which will include an iPic movie theater on the ground floor. Evan tells us the music venue, called AMP, will be powered by the Strathmore Music Foundation and catered by Michael Babin's Neighborhood Restaurant Group. Bank of America Merrill Lynch, which will move from across the street, should start building out their space early next year, Evan says.

Evan also tells us that while the site's retail, residential, and office portions have grabbed headlines, a yet-to-be-announced boutique hotel is something the firm is particularly excited about. The hotel brand and concept will be announced this fall, and with inviting public spaces and great lobby bar included, it will serve as a gathering place for workers, shoppers, and residents of Pike & Rose, as well as those who live nearby. Evan says the hotel, to include 150 rooms, will be similar to Hotel Valencia at Federal's Santana Row in San Jose (pictured). "That's the place where everyone meets and goes for a drink after they've finished dinner." Pike & Rose's hotel will be part of the second phase of development.