This week a Washington, D.C.-based developer proposed an eight-story, 230-unit apartment building with a public park to redevelop what is now a public parking lot and business strip lining Wisconsin Avenue.
Monument Realty’s sketch plan for the development has the building located between Maple and Highland avenues to the east of Wisconsin Avenue. The site (Lot 25) is currently home to TD Bank, Reico Kitchen & Bath, Maple Beer & Wine and an “underutilized” Montgomery County surface parking lot, according to planning documents. Urban Turf first reported the filing.
Plans for the 21,760-square-foot public park aim to connect it to the northernmost portion of the future Eastern Greenway, documents state. The Greenway is an initiative from the Montgomery Planning Department to create a green space corridor alongside residential neighborhoods and Bethesda’s commercial district.
The proposed building would include an underground parking garage with up to 145 public parking spaces. The plans call for about 15% of the 230 units to be moderately priced dwelling units (MPDUs) with rents set at 70% of the area median income, according to county planning rules. An additional 11 MPDUs will be set at “deeply affordable rental rates” at 50% of the area median income.
In addition, some of the units will be dedicated to live-work and coworking space, according to planning documents.
According to Chris Peifer, acting communications division chief at Montgomery Planning, Monument’s sketch plan will head to the Development Review Committee on March 26 with a tentative Planning Board date of May 30.