Federal Realty Plans New Mixed-Use Building At Bethesda Row
The developer behind Bethesda Row, Federal Realty Investment Trust, is planning a 70-foot-tall building with multifamily and retail totaling 275K SF, Bethesda Magazine reported. The developer confirmed the plans to Bisnow.
"Federal Realty Investment Trust is in the preliminary stages of exploring an additional multifamily residential building on the parcel located behind the existing retail shops," a Federal Realty spokesperson wrote in an emailed statement.
Signs were posted announcing the project near the intersection of Bethesda Avenue and Arlington Road, on the block featuring Mexican restaurant Uncle Julio's, according to Bethesda Magazine. A virtual community meeting on the project is scheduled for Feb. 22.
Bethesda Row, a 17-acre project south of the Bethesda Metro station, features 536K SF of existing mixed-use development, including 180 multifamily units, office and a host of ground-floor retail. Its retailers include Giant, Apple, Equinox, Anthropologie, Jaleo, Amazon Books and dozens of other restaurants and shops.
Federal Realty CEO Don Wood told Bisnow in September the REIT had put a hold on starting new projects until it has more certainty around the length of the pandemic and its impacts. The REIT hasn't said when it would aim to break ground on the planned Bethesda Row building. It is scheduled to report its year-end earnings Thursday.