Kettler announced that it has closed on a land and construction loan with lender Helaba. The real estate development company will proceed with plans for the development of a 101 unit high-rise apartment building in Bethesda, Maryland at 7535 Old Georgetown Road.
“This is the third construction loan we’ve closed with this institution in the last 18 months. Helaba continues to demonstrate its commitment and support to this market, our product and the sponsorship,” said Leslie Furst, senior vice president of finance for Kettler.
Currently known as Element 28, the luxury high-rise apartment tower will offer one, two and three bedroom units and approximately 3,500 square feet of retail. With demolition plans already underway, United Bank which was located on the site has relocated to a new Wisconsin Avenue location. Construction on Element 28 will commence in mid-2014.
The apartment community, designed by R2L Architects, will offer residents an array of luxury amenities in a boutique building located steps from the Bethesda Metro station. It will also be within walking distance of the Bethesda Row and Woodmont Triangle shopping districts in the heart of downtown Bethesda. Designed to attain LEED Silver certification, Element 28 will showcase an abundance of green building features, including a green rooftop offering indoor/outdoor lounge seating intended for resident gatherings and sweeping views of the Washington metro area. Additional amenities include a wine cellar, bicycle workshop, fitness center, private outdoor terraces, and a public plaza featuring a leaf-form architectural sculpture.
Asheel Shah, vice president of real estate investments for Kettler says, “The location of this property is exceptional. We’re expecting the activity brought on by residential commuters to undoubtedly reenergize this section of Old Georgetown Road and Commerce Lane. Living within walking distance of work, shops and entertainment are important to this demographic, all of which this community will provide.”
In addition to R2L Architects as the project’s architect and interior designer, the project team includes SK&A Engineers as the structural engineer, Parker Rodriguez will serve as landscape architect, KBR Building Group is the general contractor, and Bohler Engineering will serve as civil engineer.
Related Stories
| May 3, 2012
U of Michigan team looking to create highly efficient building envelope designs
The system combines the use of sensors, novel construction materials, and utility control software in an effort to create technology capable of reducing a building’s carbon footprint.
| May 3, 2012
NSF publishes ANSI standard evaluating the sustainability of single ply roofing membranes
New NSF Standard provides manufacturers, specifiers and building industry with verifiable, objective criteria to identify sustainable roofing products.
| Apr 27, 2012
APA launches wood design web portal for building and design pros
Design professionals who are members of APA’s Professional Associates are automatically enrolled in the APA Designers Circle program.
| Apr 20, 2012
Registration open for Solar Power International 2012 in Orlando
President Bill Clinton to deliver keynote address at ?largest solar energy event in the Americas.
| Apr 17, 2012
FMI report examines federal construction trends
Given the rapid transformations occurring in the federal construction sector, FMI examines the key forces accelerating these changes, as well as their effect on the industry.
| Apr 17, 2012
Miramar College police substation in San Diego receives LEED Platinum
The police substation is the first higher education facility in San Diego County to achieve LEED Platinum Certification, the highest rating possible.
| Apr 6, 2012
Flat tower green building concept the un-skycraper
A team of French designers unveil the “Flat Tower” design, a second place winner in the 2011 eVolo skyscraper competition.
| Apr 2, 2012
Gilbane honored for sustainability efforts in Indianapolis
Emmitt J. Bean Federal Center project team for their role in advancing sustainability in the city.
| Mar 28, 2012
Milestone reached for LEED-certified buildings?
Total number of major global green buildings now stands at 12,000.
| Mar 26, 2012
Los Angeles County to host free green building training
Opportunity for residential and commercial building professionals to gain insight on state and county green building standards and regulations.
