A North Bethesda apartment complex with a focus on providing access to local transit and the arts at Strathmore is welcoming new residents after officially opening this week near the Grosvenor-Strathmore Metro station on Rockville Pike.
Fivesquares Development, the project’s Washington, D.C.-based developer, along with local officials celebrated the grand opening Monday of two apartment buildings with a total of 220 units and a 1.25-acre park at 10511 Strathmore Hall St., according to a press release. The apartments, are part of the larger Strathmore Square development, which is adjacent to the Metro station, several bus lines and within walking distance from The Music Center at Strathmore.
When completed, the Strathmore Square development is expected to bring approximately 2,200 residential units and 60,000 square feet of ground-floor retail space to the area near the Metro station, according to the release. The location of the complex was formerly a commuter parking lot serving the station.
Developers reimagined the space as a neighborhood connected to the arts and nature, offering a new central park as well as proximity to The Music Center at Strathmore and Rock Creek Park. Residents will receive perks from Strathmore, which is expected to host free events in the Strathmore Square neighborhood.
“This milestone marks a significant step in transforming North Bethesda into a dynamic, transit-oriented neighborhood that combines nature, the arts and accessibility,” Andy Altman, CEO and co-founder of Fivesquares Development, said in a release about the grand opening.
Montgomery County Planning Board Chair Artie Harris described the project as “impressive” because of the amenities it offers, noting that the board considers many factors including community impact before approving proposed developments.
According to Fivesquares, the second phase of the project will include the construction of 400 residential units and 10,000 square feet of retail space. Developers estimate the second phase will be completed by 2027.
The remaining phases of the Strathmore Square neighborhood are expected to include an additional 1,500 residential units, senior housing residences and 51,000 square feet of retail space, according to the release. Fivesquares did not provide an approximate date or timeline for the completion of the development.
According to the Fivesquares release, the project involved partnerships between the developer and the Washington Metropolitan Area Transit Authority; The Music Center at Strathmore; and Colorado-based real estate investment trust Apartment Investment and Management Co. (Aimco), Eagle Bank and the Amazon Housing Equity Fund, which provided financing.
“With the support of our cultural partner, Strathmore, WMATA and Amazon’s dedication to affordable housing, we are building a community that fosters connection and inclusivity, offering a lifestyle that truly enriches the lives of its residents,” Altman said.
Strathmore cultural partnership
Under the development’s partnership with Strathmore, all residents of the two apartment buildings, named Ravel and Royale, automatically become annual members of Strathmore, according to the release. Strathmore is also expected to host free concerts, performances and outdoor arts experiences in the development.
“Strathmore believes the arts are essential and everyone deserves access to them,” Monica Jeffries Hazangeles, president and CEO of Strathmore, said at the grand opening. “Our partnership at Strathmore Square is just one more way we are living that commitment, supporting artists, bringing the arts to our neighbors, and encouraging creative pursuits on and off our campus.”
In addition to the membership, residents will receive access to artist interviews and private concerts and can meet with an art curator to create “the ideal concert season” for the community, the release said. Other perks include reserved seating for Strathmore’s summer concert series, “Live from the Lawn,” and discounts on Strathmore Presents performances.
Residents also have access to free weekly classes at CityDance Studios and conservatory rehearsals, according to the release. CityDance has three studios within the apartment complex.
Transit-oriented community
The two apartment buildings with a 1.25-acre civic park with direct access to the Grosvenor-Strathmore Metro station now cover the space once occupied by a commuter parking lot. Residents also have easy access to nearby highways such as I-270 and the Beltway and more than seven bus lines that serve the Metro station. On-site garage parking is available for residents as well.
WMATA General Manager and CEO Randy Clarke also attended the grand opening Monday. According to the release, he said the project “highlights the benefit of having Metro at the center of the community.”
Clarke said the project was made feasible through tax abatement legislation enacted by the County Council. “Public/private partnerships like this one build more accessible transit options for the future, supporting a more competitive region,” he added.
According to the release, the Strathmore Square project is the first development to benefit from the county’s new 15-year real estate tax-abatement for high-rise residential development at Metro stations.
Affordable housing
The Amazon Housing Equity Fund, representing one of the project’s partnerships, is helping to fund the construction of affordable housing in the development. Through the fund, Amazon has pledged to provide $24 million in financing to fund the construction of more than 20% of the residential units built in the first two phases that are to be designated as affordable homes, according to the release.
The affordable units are intended for residents earning between 50% to 70% of the area median income.
“This development marks a significant milestone for the Amazon Housing Equity Fund, as it is the third development to deliver affordable homes under our partnership with WMATA,” Senthil Sankaran, a principal of the Amazon Equity Fund, said in the release.
At full build-out, the Strathmore Square neighborhood will have 60,000 square feet of ground-floor retail, which includes three new studios for CityDance at the base of the Ravel and Royale buildings.
Royale features 171 residential units with a mix of studio apartments and units offering from one to three bedrooms. Monthly rents range from $2,166 for a studio apartment to $10,695 for a three-bedroom apartment, according to the apartment complex’s website.
Ravel includes 49 resident units of two- and three-bedroom apartments. Rent ranges from $4,631 for a two-bedroom to $10,995 for a three-bedroom, the website states.