The latest redevelopment proposal in White Flint is an apartment that will cater to the entry-level millenial set, according to the project’s developer.
Foulger-Pratt is partnering with ProMark to build two six-story apartment buildings with a total of 362 units called Tilden Place at 11600 Nebel St. in North Bethesda. Dick Knapp, senior vice president at Foulger-Pratt, presented the sketch plan for the site on Monday.
Knapp said 70 percent of the units will be one-bedroom or studios around 825 square feet. He compared it to Foulger-Pratt’s recently finished Citron mid-rise apartment in Silver Spring. Rents there run from $1,725 to $2,975 a month, according to real estate website Trulia.
The apartment, as proposed, will include about 320 underground parking spots and no ground-floor retail. Knapp said the retail planned for nearby Nicholson Lane, including another Foulger-Pratt project, will be enough for the area. The sketch plan calls for a pool and green area intersecting the two buildings.
There are tenants in the existing office building on site. Knapp said the company hopes to start construction by the end of 2014 and have the first phase done by 2016, then the second phase by 2017.
The development includes a new street built by the developer that will be dedicated to the county. Foulger-Pratt bought the 1970 property in December for $5.1 million.