Chevy Chase’s Starr Capital plans to begin construction on a 17-story, 72-unit condo building in Woodmont Triangle in January, according to Timothy S. Eden, managing director of Starr Capital.
“We are thrilled,” Eden said. “We have a 17-story building approved. There are very few condos in the pipeline right now, and none of them are going to offer the kinds of views we’re going to offer. It’s going to be a very high quality luxury environment.”
The building, being called 4990 Fairmont, will include 7,000 square feet of retail space and 15,000 square feet of public use space, according to its site plan. Once construction begins, Eden said they hope to finish the building in 20 months. He did not provide a price range for the condos, but said they’ll start marketing units later this year. The developer agreed to provide the public use space to the Bethesda Urban Partnership, which plans to set up an arts incubator there.
The Montgomery County Planning Board gave its final approval for the building on April 3. It’s located near the corner of Fairmont Avenue and Old Georgetown Road, where Eastham’s Auto Service recently reopened. Eden said they signed a short-term lease with Eastham’s that will expire when construction begins.
Ground floor retail is planned and as well as a four-story above-ground parking garage. Twelve of the building’s units are required to be moderately priced.
