Regency Centers wants to create a new town center for the affluent Westbard neighborhood in Bethesda.
To that end, the company plans to tear down the aging Westbard shopping center at 5400 Westbard Ave. and make way for a scaled down, mixed-use development of largely neighborhood-serving retail. Total project costs are estimated between $65 million and $75 million.
“Residents come here to get things done — this isn’t going to compete with downtown Bethesda,” said Sam Stiebel, a vice president in Regency’s Tysons office. “You’ll have your grocery store. You’ll have your place to get your clothes cleaned, get your hair cut, go to the bank. But do we need a big box? Probably not.”
The company recently submitted plans with the Montgomery County Planning Board for 823,610 square feet of new development, including up to 410 multifamily units, 106 townhouses and 180,000 square feet of retail, plus significant green space.
Regency’s plans are considerably different from what was submitted…Read the full story from the Washington Business Journal.