Lot 31 Tops Out
After 35,000 truckloads of dirt, 5,000 truckloads of concrete, 8.6M pounds of reinforced steel, and 1,200 miles of post tension cable—and two years of construction—StonebridgeCarras and PN Hoffman have topped out their mixed-use project in Bethesda. The firms, who are developing the retail/residential with equity partners Northwestern Mutual and Buvermo Properties, celebrated the milestone Friday, along with the 350 Clark Construction workers who've made it possible. Here's Montgomery County's Suresh Purohit, Jeff Riese, Rick Siebert, Art Holmes, and Al Roshdieh, Stonebridge's Doug Firstenberg and Jane Mahaffie, and PN Hoffman's Monty Hoffman. It's been a long time coming for this crew—Doug tells us his firm and PN Hoffman began pursuing Lot 31 in 2004.
The quick facts on Lot 31, at the corner of Woodmont and Bethesda Avenues: 42k SF of retail, 162 apartments (called The Flats), and 88 luxury condos (called The Darcy). Doug tells us The Darcy condos are over 50% sold at this point, and that the retail is currently 90% leased (to tenants such as Pottery Barn, Chop't, PAUL Bakery and Passion Fish). He adds that Woodmont Avenue, closed off as part of construction, will re-open in August, and says the county parking garage built as part of the project will open at the end of 2014.