Here's a look at the rapid progress on The Charles, a new apartment tower under construction at 7340 Wisconsin Avenue in Bethesda. The 26-story building replaces an Exxon gas station on the site. Extensive glass installation has been performed by contractor Advanced Window, Inc. Developer Greystar anticipates the first residents moving in during Q4 of 2025.
14 comments:
We’ll see how long it takes to Lease the Apartments in this Building, because it is coming right behind 4 others in Bethesda and they are taking a while to Lease Up
That thing is huge; it looks like the Death Star. How many units are in there?
Excessive, bloated, and grossly UNaffordable! Hundreds if not thousands of Bethesda and MoCo families have been and will continue to be displaced for this type of building. The County pays lip service to its plans, policies, and statements about "no loss" of affordable housing.
With its tear-down plan for current apartment buildings, Phase 1 of Battery Lane redevelopment will eliminate 150 "naturally occurring affordable housing" (NOAH) units, to be replaced with 49 income restricted units (MPDUs). That's displacement of approximately 100 families just in those few blocks of downtown Bethesda. (The new buildings will, once again, be excessive, bloated priced units.)
In North Bethesda, per redevelopment in the Pike&Rose area, original plans to have 70 MPDUs (apartment building) is being scaled down to 20 MPDU townhouses. If you're a single-person household, you no longer qualify for housing under the revised plan (single person households are not eligible for townhouses under the program). The apartment building would have provided for a mix of units for families of varying sizes.
https://bethesdamagazine.com/2025/02/28/developers-green-light-townhomes-switch-north-bethesda/
Hate to see what Trump is doing to our economy, but I'm jealous of Austin's 22% decline in rents from their apartment building boom so hopefully that can happen here while also avoiding a recession.
1:21: I do hope we see a return to supply/demand market forces. The post-"Great Recession" buildings so far have not brought prices down in Bethesda. If there were mass government layoffs (call me a skeptic on this), you might see the kind of post-pandemic worker outflow Austin is experiencing here, where they built a lot but now can't fill all those units.
Newsflash. HOC bought all of the Alden Battery Lane buildings. 12:49 you win the fountain of misinformation prize.
The Charles has only displaced a gas station that was vacant for a decade.
In downtown Bethesda, the Cecil, the Sophia, the Auburn, the Camille, 7607 Solaire, the Hampden, the Elm, the Flats at Bethesda Avenue, the Darcy, Upstairs at Bethesda Row, the Brody, 7001 Arlington, the Adagio, the Cheval, the Edge, and Element 28 have not displaced a single existing apartment unit. All of these apartments have at least 15% MPDU’s where no existing affordable apartments or condos existed.
All of the new buildings 5:43 mentions, why are apartment rents going up and not down? $3,200 for a low floor 1 bedroom in the Sophia (that is not including all of many fees and utilities).
No wonder we’re blowing through the building cap! Construct buildings quickly, then ask the cap to be relaxed.
Link or reference? When did they scoop them up? Are you saying ALL the Glens?I was only made aware of 4998 & the other Glen* across the street next to Whitehall.
Rents go up because developers will charge what they perceive to be what the market will bear. I don’t think anyone expects landlords to charge less than they can, and loose money, just to be nice guys. As buildings age, and newer ones come online, with potentially more amenities, nicer and newer finishes, yes some off these will be priced at the lower end of market rate. At some future point, these buildings will become the new “naturally occurring affordable housing”. It is expensive to live in luxury housing in a dynamic and kinetic walkable urban neighborhood like downtown Bethesda. Always has been.
The only "existing naturally affordable apartment complex" that was demolished and replaced with more expensive housing in Bethesda this century was the one at the northeast corner of Woodmont Avenue and Hampden Lane.
Pretty sure Gallery 1 & 2 , The Wilson, Bainbridge, 7900Wisconsin also kicked in 15% + moderates with out demolishing any existing units
Alden sold all their low rise battery lane holdings to HOC in October.
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