Greystar Real Estate Partners LLC and Partners Group, a global private markets firm, have broken ground on a new apartment building in a suburb of Washington, D.C.
The 26-story tower at 7340 Wisconsin Ave. in Bethesda, Maryland, was designed by SK& I Architecture and interior designer JGNA and will feature 301 residences, including penthouse units on the upper floors, in layouts of one-, two and three-bedroom configurations. Forty-six units are set aside as Moderately Priced Dwelling Units, and the complex has four levels of below-grade parking.
Tenant amenities will include a speakeasy, rooftop pool, screening room, work from home multi-use spaces, fitness center, and 24-hour concierge. The apartment building will also have retail located on the first floor of the building. The first units are projected to deliver in the fourth quarter of 2025, with final completion in early 2026.
“7340 Wisconsin Ave presents the unique opportunity to transform a forlorn site in the heart of Bethesda into a boutique project befitting of its trophy location, direct access to mass transit, top public schools and exceptional demographics.” said John Clarkson, managing director of development at Greystar. “We are very fortunate to venture with Partners Group and collectively believe moving forward with our project in an uncertain environment will generate significant long-term value for the community and the partnership.”
“We are pleased to expand our relationship with Greystar, one of the country’s top developers, on this project,” said Jason Longo, Partners Group’s member of management for private real estate in the Americas. “We look for high-conviction growth themes with best-in-class operators. The residential sector has been a core focus for us in the U.S., particularly high-quality assets with world-class amenities that support the resident experience.”