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Federal Realty Gets Green Light for Apartments at Rockville Strip Center
Federal Realty Investment Trust has won approval from the Montgomery County Planning Board for a new mixed-used development on part of its Federal Plaza strip shopping center in Rockville, MD, the Washington Business Journal reported. The approval advances Montgomery County’s vision for substantial urbanization along the corridor between North Bethesda and Rockville.
Federal Plaza comprises two parcels, East and West, roughly half a mile north of Federal Realty’s Pike & Rose development. The REIT now has the green to build two new multifamily buildings — up to 500 units in about 474,000 square feet — on Federal Plaza West’s surface parking lot, reported the Business Journal.
Retaining much of the existing retail, plus the addition of some new ground-floor retail in one of the residential buildings, would bring the site’s commercial footprint to about 109,000 square feet. The new infill would bring total development on Federal Plaza West to 583,000 square feet, compared to 135,000 square feet currently.
- ◦Development
- ◦Policy/Gov't



