What's Hot: Mark Zuckerberg Is Buyer of $23 Million DC Home
200-Unit Bethesda Development Switches From Condos to Rentals
✉️ Want to forward this article? Click here.

Rendering of 7770 Norfolk
A large residential project in downtown Bethesda will deliver as rentals rather than condos, UrbanTurf has learned.
7770 Norfolk (map) is a 17-story, 200-unit development from The JBG Companies, ROSS Development & Investment and the CIM Group. After announcing in April 2015 that the development would go condo, a slower than expected sales pace dictated the switch to rentals.
story continues below
story continues above
“The property was well received by the public and achieved the desired sales pricing, but unfortunately, we learned that our condominium sales pace was lower than what is required to sell 200 units in a timely manner,” JBG’s Matt Blocher told UrbanTurf. “Ultimately, the submarket seems to be geared toward smaller buildings, where this pace creates an acceptable outcome of sales time period.”
7770 Norfolk will start leasing next month. The development consists of studios, one-bedrooms, two-bedrooms, and a few three-bedrooms, and a restaurant will occupy the ground floor.
See other articles related to: 7770 norfolk, bethesda apartments, cim group, downtown bethesda, jbg, ross development
This article originally published at https://dc.urbanturf.com/articles/blog/200-unit_bethesda_development_switches_from_condos_to_rentals/10712.
Most Popular... This Week • Last 30 Days • Ever

DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »

On Saturday, DC is hosting a meeting where the proposals to reimagine the Chevy Chase... read »

Politico is reporting that Zuckerberg purchased a home in Massachusetts Avenue Height... read »

On Monday, the developer began construction on a five-story, seven-unit building alon... read »

Today, UrbanTurf takes a look at what remains in the residential pipeline for Union M... read »
- First-Timer Primer: DC's Home Buyer Assistance Programs
- The 8 Proposals To Redevelop A Hotly Debated Site In Chevy Chase
- Mark Zuckerberg Is Buyer of $23 Million DC Home
- Ground Breaks On Long-Planned Residential Development At Eastern Edge Of Georgetown
- The Hotel, The Flatiron And 1,100 Units In The Works At Union Market
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro