The JBG Cos has its sights set on replacing an existing Downtown Bethesda office building with an even bigger one.
The developer is hoping to replace the existing eight-story, 93k SF building at 4733 Bethesda Ave with one that's 285k SF 14 stories. County planners have given the thumbs up to the project, which will head before the Planning Board on May 12, Bethesda Magazine reports.
The existing building was constructed in 1965, and includes a long-vacant, ground-floor retail space. The new building would also include first-floor space for either a restaurant or retail. Neighboring property owner Federal Realty Investment Trust nearly joined forces with JBG to construct a hotel at the site back in 2014, but those plans failed to see the light of day.
JBG has another ambitious project in the works in Downtown Bethesda. The developer has teamed up with Ross Development & Investment and the CIM Group for a 17-story, 200-unit development at 7770 Norfolk Ave. That project was originally slated to be condos, but a slower than expected sales pace spurred a change to apartments. JBG principal Matt Kelly will be a speaker at our DC State of the Market Part II: at the end of next month. [BETH]
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