BETHESDA, Md. (August 6, 2007) — The Washington, D.C. regional office of LCOR announced today that it has topped out on construction of the first new apartment building at North Bethesda Center, an office, residential and retail development rising on a 32-acre site directly adjacent to the White Flint Metrorail station in North Bethesda, Md.

Construction began in June 2006 on the project’s first phase of development, including an 18-story, 312-unit high-rise luxury apartment building and a 65,000 square foot Harris Teeter grocery store. The supermarket will be located at the base of the apartment building. Both the store and the apartments are scheduled to open in June 2008.

The elegant masonry structure is clad in three colors of brick; the brick’s grid pattern distinguishes the building. A fourth brick color is used as a special treatment on the entire 18-story corner, announcing the residential entrance.

LCOR is master developer of the site, the largest joint-development project ever approved by the Washington Metropolitan Area Transit Authority. The Main-Street style development that links all of the new buildings to the Metro station will include 930,000 square feet of office space, 202,000 square feet of retail space and 1,275 multifamily housing units.

North Bethesda Center, with an estimated development cost of $850 million, is expected to generate approximately 5,400 new permanent jobs and 6,500 mass transit riders.

“North Bethesda Center is rising,” said Michael J. Smith, Vice President of LCOR. “The first building has topped out. We’ll break ground on Phase II next year, which will consist of a 350,000 square foot office building, a 325-unit high-rise apartment building, 120,000 square feet of retail space and, potentially, a hotel. We’re active in negotiations with a number of prospective office and retail tenants. North Bethesda is well on its way to having a sought-after ‘center.’”

The North Bethesda Center project team includes, among others, Dorsky Hodgson Parrish Yue (Washington, D.C.), architect of the Harris Teeter grocery store and the apartment building that has topped out, and general contractor Bovis Lend Lease (Bethesda).

Based in Berwyn, Pa., LCOR is a national real estate development and investment company. The firm’s portfolio includes more than $8 billion of properties completed, under construction or in pre-development.

LCOR has a 35-year presence in the Washington area. The company, which specializes in mixed-use, multifamily and office properties, developed and manages the U.S. Patent and Trademark Office headquarters campus in Alexandria, Va., among other properties.

ABOUT US • WHAT WE DO • OFFICES • SELECTED PROJECTS • PROPERTY WEBSITES • WHAT'S NEW • SEARCH

© 2007 LCOR Incorporated. All rights reserved.