Photo courtesy of LCOR
The 354-unit building — to be named Envoi — will be constructed on a 1.6-acre parcel owned by Metro and ground leased to LCOR, the project’s developer and builder, through Metro's Joint Development Program.
The Washington Metropolitan Area Transit Authority, better known as the Metro, held a groundbreaking Jan. 8 for a new high-rise residential building being constructed at the North Bethesda Metro Station.
The project is the final phase of a mixed-use joint development helping spur the transformation of the surrounding North Bethesda Pike District in the Maryland suburbs of Washington.
The 354-unit building — to be named Envoi — will be constructed on a 1.6-acre parcel owned by Metro and ground leased to LCOR, the project's developer and builder, through Metro's Joint Development Program.
Once completed, the Metro-LCOR partnership will result in 2 million sq. ft. of mixed-use development at the transit station. This includes 1,300 residential units, of which 164 will be affordable housing.
"This project at North Bethesda shows the positive impacts of Metro's partnerships across the region, generating economic benefit, creating new revenue and ridership for Metro, and supporting sustainability through transit-oriented development," Metro General Manager and Chief Executive Officer Randy Clarke said in a statement.
"We have the most robust joint development program in the nation and plan to accelerate development of Metro's assets in the District, Maryland, and Virginia to help maintain safe, reliable, and affordable transportation."
The 12-story Envoi building represents the final phase of a 2001 joint development agreement between Metro and LCOR and is the fourth residential building constructed at the site as part of the "The Quad at Pike District."
Metro has received more than $40 million in upfront ground lease payments, fees and other payments from the development, which also will generate approximately $350 million in state and local tax revenues over the next 30 years.
The project also is supported by the More Housing at Metro Act, enacted by Montgomery County, Md. in 2021, to incentivize development of transit-accessible, affordable housing units on Metro properties in the county.
In addition, Metro owns another 13 acres of undeveloped property at the North Bethesda Station and is working with the county on an initiative to create a life science anchored transit-oriented development. A future solicitation is planned to select a development team for that site.
The joint development supports Metro's Strategic Transformation Plan to maximize regional opportunities and partnerships, support sustainability, and deliver revenue to provide service excellence through safe, reliable transit options.
Since 1975, Metro has completed 55 joint development projects totaling 17 million sq. ft. (about half the area of New York's Central Park) at 30 of the transit authority's 98 stations, more than any other similar agency in the United States.
Under Metro's 10-Year Strategic Plan for Joint Development, the Capital-area agency seeks to advance 20 joint development projects by 2032.
Current mixed-use projects are under construction at the College Park-University of Maryland, Grosvenor-Strathmore and New Carrollton stations. Predevelopment efforts are also ongoing for projects at Capitol Heights, Congress Heights, Brookland-CUA, Fort Totten, Deanwood, Forest Glen, Takoma, Lottsford Road, West Hyattsville, Landover, Mill Road, Huntington and West Falls Church.
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