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Fivesquares Development, Aimco Open Strathmore Square in North Bethesda
Fivesquares Development, a Washington, D.C.-based real estate developer, along with Apartment Investment and Management Company (Aimco), celebrated the grand opening of the first phase of Strathmore Square, a transit-oriented neighborhood in North Bethesda.
The development team unveiled Strathmore Square’s first phase of the neighborhood, which includes 220 apartment residences across two distinct residential offerings, Ravel and Royale. Strathmore Square will ultimately encompass 2.2 million square feet.
“We are thrilled to celebrate the opening of Strathmore Square’s first phase, a project representing our commitment to creating vibrant, culture-rich communities. This milestone marks a significant step in transforming North Bethesda into a dynamic, transit-oriented neighborhood that combines nature, the arts and accessibility,” said Andy Altman, CEO and Co-founder of Fivesquares Development.
Through the Amazon Housing Equity Fund, Amazon has pledged to provide $24 million in long-term, lower-cost financing to fund over 20 percent of Strathmore Square’s Phase I & II units as new affordable homes.
