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Bainbridge Bethesda to Break Ground

by UrbanTurf Staff

Bainbridge Bethesda to Break Ground: Figure 1
The (former) Monty. Courtesy of SK&I.

DCmud recently reported that construction on Bainbridge Bethesda (originally The Monty), a 174-foot tall apartment building in Bethesda’s Woodmont Triangle, will start in the coming weeks. The apartment project will be located near the intersection of Fairmont Avenue and St. Elmo’s Avenue (map).

Originally, the project was scheduled to start construction months ago, but as DCmud describes, “equity issues” have delayed construction:

The project is a long time coming, having been before the county planning board for 5 years. Bainbridge purchased the site with approvals last summer, and expected to break ground almost immediately, but equity issues have held up construction, which has been billed as nearly imminent since that time.

The post provides details about the new equity partners, as well as specifics about its amenities (gym, four levels of below-grade parking) and completion date (late 2013).

While the project is no longer called The Monty, downtown Bethesda is still expecting another Monty, of sorts. The Darcy, a 250-unit condo project that will be located at the corner of Bethesda and Woodmont Avenue, started sales a few months ago. The project is the product of a partnership between seasoned condo developers PN Hoffman (founder Monty Hoffman) and StonebridgeCarras. It will initially have 60 luxury condos ranging in price from $750,000 to $3 million, and construction is scheduled for completion in 2014.

This article originally published at http://dc.urbanturf.com/articles/blog/bainbridge_bethesda_to_break_ground/3983

4 Comments

  1. Jason said at 9:15 pm on Monday August 15, 2011:
    What is meant by "174-foot apt building"? Is that the height?
  1. Mark Wellborn said at 9:43 pm on Monday August 15, 2011:
    Jason, Yes. Forgot the word "tall" which has been added. Mark Wellborn Editor
  1. BTH said at 1:48 am on Tuesday August 16, 2011:
    "It will initially have 60 luxury condos ranging in price from $750,000 to $3 million, and construction is scheduled for completion in 2014." Who can really afford these places on governmnet salaries, even contractor salaries? I'm stupfied developers are not going for 400 to 600k price point, especially given the uncertainity of the market coupled with the prospect of lower loan guarantees and the repeal of mortgage loan interest deductions. Not saying people will not buy them, because there are suckers born every minute, but another "high-end" development is not what people need in Bethesda.
  1. jag said at 3:00 pm on Tuesday August 16, 2011:
    Bethesda does have a condo conversion currently selling at the 400-600k range - it's called The Chase. I think it makes sense to target the 750k+ range as the closest building I know of currently selling at that price point is in Friendship Heights. Not that I'll ever have the money or desire to spend 750K on a 1br, but I imagine 60 units won't be too hard to unload.

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