Slow Sales Pace Spurs 200-Condo Bethesda Development To Switch To Rentals
A slower than expected sales pace has prompted The JBG Cos to switch its ambitious condo project in downtown Bethesda to apartments.
The 17-story, 200-unit development at 7770 Norfolk Ave from JBG, ROSS Development & Investment and the CIM Group will deliver as rentals instead of condos, Urban Turf reports. The development was announced as condos back in April 2015, but JBG hasn't seen the sales pace keep up with what they had hoped.
7770 Norfolk was designed by FXFOWLE Architects with interiors designed by Cecconi Simone. Leasing is scheduled to begin next month for units that range from studios to three-bedrooms.
The development is one of several that have sprung up or are in the works in the Woodmont Triangle area of Bethesda, including the Harris Teeter-anchored, 359-unit development at 8300 Wisconsin Ave from StonebridgeCarras. [UT]