Business & Tech

Financing Announced For 17-Story Retail, Residential Tower

Construction is underway at the "Gallery of Bethesda" on Auburn Avenue.

The Donohoe Companies has closed on a $55,000,000 construction loan to build a at 4800 Auburn Avenue.

Known as the “Gallery of Bethesda,” the building will feature 234 apartments and more than 4,600 square feet of ground-floor retail facing Del Ray and Auburn Avenues.

The construction financing for the project is funded by AXA Equitable, according to a statement from developers. The project is a partnership between developers The Donohoe Companies and MPM Investments.

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Demolition, which launched in April, has been completed at the site and construction is underway.

The residential and retail tower is the first phase of a larger plan, known as that will bring an additional 16-story residential and retail building to nearby 4850 Rugby Avenue, separated from the Gallery of Bethesda by a quarter-acre plaza. No groundbreaking date has been set for 4830 Rugby or the third phase of the project, which will bring a six-story office building to 8280 Wisconsin, a site at the corner of Battery Lane.

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According to developers, The Gallery of Bethesda will boast amenities including a rooftop pool, sundeck and clubroom, a fitness room and coffee bar.    


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