Bethesda, Maryland-based Washington Property Company has broken ground on a 22-story apartment high-rise in downtown Bethesda, which is expected to be completed in 2023.
The $107 million apartment community will be located at 7607 Old Georgetown Road at the intersection with Commerce Lane. It is the site of a former La Madeleine cafe, which closed permanently last November.
This will be the seventh Solaire-branded apartment community Washington Property Company has delivered in the D.C. region, all within walking distance of Red Line Metro stops, including a 139-unit luxury apartment building nearby at 7100 Wisconsin Avenue in Bethesda.
The new high-rise will have 198 apartments and 1,500 square feet of street level retail, as well as four levels of underground parking. Thirty of the apartments will be moderately priced dwelling units (MPDUs) and 168 will have market-rate one and two bedroom units.
The building will have a rooftop clubhouse and roof terrace, penthouse fitness center, a teleconference room available for reservation and on-site concierge.
In total, it will mean Washington Property Company will own 1,700 apartment units under the Solaire name.
The company closed on a $69 million construction loan from Bank of America for the new high-rise. It is designed by Washington-based architectural firm Shalom Baranes Associates. Clark Construction Group is the general contractor.
Washington Property Company has developed more than 8 million square feet of commercial space in the D.C. area, and has more than 1.6 million residential square feet currently under development.