Finance

$92.34M Up For Multi-Housing Project in the D.C.

$92.34M Up For Multi-Housing Project in the D.C.

Washington DC: JLL Capital Markets has declared that it has secured the $92.34 million construction financing for “Parcel H,” a luxury apartment building situated in North Bethesda that will comprise 354 units and be built on a 12-story structure.
The North Bethesda Master Plan, a Joint Development Agreement between LCOR and the Washington Metropolitan Area Transit Authority, was signed in 2001.

The agreement names Parcel H as the fourth and last land parcel that LCOR will develop; taken as a whole, the four properties are referred to as “The Quad.”

The 341-unit Aurora, constructed in 2014; the 312-unit Wentworth House, constructed in 2008; and the 294-unit Arrowood, constructed in 2021, are the three existing properties. After Parcel H is finished, there will be more than 1,300 nearby LCOR-operated units, as well as common areas, parking, efficient operations, and a feeling of neighborhood.

When Parcel H is finished, it will have nine 881-square-foot penthouse units and apartments with one, two, and three bedrooms. Modern kitchens featuring quartz countertops, stainless steel appliances, electric thermostats for the HVAC system, wood-style flooring, in-unit laundry and dryers, and floor-to-ceiling windows will be featured in the apartments.

Modern fitness facilities, an outdoor pool, a large outdoor courtyard with fire pits and grilling stations, a resident lounge with coworking spaces, dedicated meeting spaces, tech pods, indoor and outdoor kid play areas, a dog park, and a penthouse lounge with gaming sections and a golf simulator are just a few of the amenities that will be available.

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