$625M North Bethesda Town Center Gets the Thumbs Up

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BETHESDA, MD-Years in the works, plans for North Bethesda Town Center move forward with the Montgomery County Planning Board’s approval of preliminary plans for the 2.8-million-sf mixed-use project. Berwyn, PA-headquartered real estate developer LCOR is behind the project, which will sit at the White Flint Metro station on a 32-acre parcel being leased to LCOR by the Washington Metropolitan Area Transit Authority under a long-term arrangement.

It was back in 1997 when WMATA chose LCOR to be its partner in developing the sprawling site, then known as White Flint East. The project, expected to cost $625 million, marks the largest joint development agreement in WMATA’s history. If all goes according to plan, LCOR will likely break ground on the endeavor late in 2005.