$850 million

With that first building underway, LCOR can turn its attention to phase II of the project, called North Bethesda Center, which at full build out will bring to market 2.7 million sf of mixed-use development, LCOR vice president Michael Smith, tells GlobeSt.com. "We will be breaking ground on the next apartment building in November." Half of the North Bethesda Center will be devoted to multifamily--altogether the project will deliver 1,275 units in four 310-to-330-unit buildings.

The project will also have three office towers and one hotel tower. Recently, Smith reports, Westin signed on to be the flag for the hotel portion of the project. "It will be a 320 or so key, premium full service hotel, which is rare in this submarket." Phase II will also include the development of one of the office towers, which is expected to break ground at the beginning of next year, and the hotel tower. There will also be 125,000-sf of retail delivering in phase II, he says.

A grocery store will also be part of the mix, delivering with the Wentworth House as part of phase I. The ground floor of the building will house to the largest Harris Teeter grocery store in Maryland and will be capped by a 17,500-sf green roof--a first for Harris Teeter, Smith says. Wentworth House will offer studio, one-bedroom and two-bedroom apartments ranging in size from 563 sf to 1,252 sf.