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Equity One had previously planned a contentious, 1.8M SF development in Bethesda's Westbard neighborhood, but after being acquired, its new owner is now pushing a smaller plan.
Regency Centers, which acquired Equity One in a $5B deal that closed last year, plans to build 410 multifamily units, 106 townhouses and 176K SF of retail on the site of the Westwood Shopping Center, Bethesda Beat reports.
The plan is scheduled to go before the Montgomery County Planning Board in September, and Regency Centers hopes to break ground next year. The 23-acre site includes the shopping center at 5400 Westbard Ave. and two adjacent properties. Regency plans to build the first phase on the shopping center property.
The new redevelopment plan is significantly smaller than the 1.8M SF development Equity One had previously pitched. That proposal received strong backlash from neighbors, who voiced concerns about public space and the possible disruption of an African-American cemetery.
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