Developer to Start Construction on Mid-Rise Apartment Building In Rockville Town Center
Kettler announced Tuesday it has secured a construction loan for The Metropolitan at Rockville Town Center
Via City of Rockville Planning Commission
A Virginia-based developer says construction will begin later this month on a 275-unit, six-floor mid-rise apartment building in Rockville Town Center.
Kettler announced in a press release Tuesday that it and partner Cornerstone Real Estate Advisers have secured a land and construction loan for the project with Wells Fargo Bank. The developer didn’t disclose the amount of the loan.
The apartment building, The Metropolitan at Rockville Town Center, will be located at 255 North Washington St., the site of a Bank of America branch that was demolished in 2014. The site is just north of Federal Realty Investment Trust’s mixed-use Rockville Town Square project.
The Metropolitan will include one-bedroom lofts, two-bedroom units and three-bedroom units, according to Kettler. Amenities will include a fitness center, yoga room, pet grooming room and swimming pool, plus two outdoor courtyards and a two-level lounge. There will be about 6,000 square feet of ground-floor retail space.
“We want to be where there is growth and we think the Metropolitan puts us in the middle of the action where demand continues to be robust for quality multi-family housing,” Asheel Shah, president of multi-family development for Kettler, said in the press release.
Architects from Washington, D.C.-based firm R2L and Alexandria-based Parker Rodriguez Inc. designed the project, which the City of Rockville Planning Commission approved in October 2014.
It will include a 336-space parking garage for residents and customers of the building’s retail or restaurant tenants.
Just north of the site, at 275 North Washington St., is a recently completed two-story commercial building from developer JBG Cos. Brightview Senior Living is expected to begin construction soon on a 195-unit senior living building next door to the JBG project.