The developer behind a planned tower in downtown Bethesda has acquired the final parcel of land needed to make the project a reality, reported Bisnow. Developer StonebridgeCarras acquired 4630 Montgomery Lane for $15.25 million with hopes to construct a 250-foot-tall development only a block away from the Bethesda Metro station.
Already, the developer acquired a parcel at 7351 Wisconsin Avenue and 7359 Wisconsin Avenue. In order to achieve the latter site, the developer had to promise to construct a new police station at 4823 Rugby Road.
Detailed plans of this project aren’t expected to be revealed until later this summer, but it is expected to predominantly house office space with ground-floor retail.
The project is expected to break ground in 2019. The delivery is estimated around 2021.
• StonebridgeCarras Acquires Final Parcel For 500K SF Downtown Bethesda Project [Bisnow]