Willco Pitches 20-Acre, 8-Building Development Near Pike & Rose
Potomac-based developer Willco is moving forward with plans for a second major project near the Pike & Rose development in North Bethesda.
The firm, through the entity Washington Science Joint Ventures, filed plans on March 24 for a 2.5M SF project with up to 2,063 residential units and up to 415K SF of commercial development, Bethesda Magazine first reported.
Willco Vice President of Construction & Development Bob Mazzuca told Bisnow that those figures represent the maximum allowable density, but they will likely build less than that because construction costs make shorter, wood-frame buildings more feasible. He estimated the project would ultimately total between 1,300 and 1,500 units.
The project, branded as Rose Village, would be built on a 20-acre site on the southern side of Montrose Parkway at the intersection with Towne Road, directly to the west of the Pike & Rose mixed-use project. It sits about a half-mile from the White Flint Metro station.
Mazzuca told Bisnow the developer plans to start the project as soon as it receives approval. He said it will start by constructing one building at a time, beginning with Building A, a seven-story apartment building on the southwest corner of the site, and then moving north and east toward Montrose Parkway and Pike & Rose.
The 20-acre site includes three existing office buildings, two that have tenants and one vacant one that will be torn down as part of the development.
Rose Village is the second major project Willco is moving forward on in the White Flint area. On the north side of Montrose Parkway, directly across the street from the site, the developer received Montgomery County Planning Board approval in July for a 16-acre project featuring townhouses, and low-rise and high-rise multifamily.
Willco is selling an 11-acre portion of that site to Tri Pointe Homes, which aims to break ground later this year on a 141-unit townhouse project, Mazzuca said. Willco then aims to begin construction next year on the site's multifamily components, featuring 108 apartments and 500 condos.
Willco CEO Tom Regnell, who joined the firm in September, told Bisnow he sees these projects as benefiting from the activity Pike & Rose has created. He also said that Montgomery County's plans to build a life sciences hub at the White Flint Metro station could generate additional demand.
"We see it as a natural complement to Pike & Rose," Regnell said. "They've established the retail and we're making the next progression on our site, which is a mixed-use, transit-oriented development."
