A luxury condo building planned for the corner of Woodmont Avenue and Battery Lane in downtown Bethesda is expected to open in 2016, according to a news release from Reston-based developer Duball, LLC.
The building, called "Woodmont View," is planned to have 46 two-bedroom condominiums (37 of them market-rate), each one averaging more than 1,500 square feet, according to Duball.
The ground-floor retail space is expected to be occupied by a restaurant, Urban Turf reported.
Woodmont View will be a joint venture between Duball and The Resmark Companies, reported Duball, which bought the land for $6 million (about $67 per developable square foot) and took out a $26 million construction loan from EagleBank, according to the Duball news release.
"The project is fully capitalized with construction scheduled to start in late 2014 and delivery expected in 2016," the news release added.
"EagleBank is excited to once again finance a Duball construction project," EagleBank CEO Ronald D. Paul said in the news release. "Based on their track record, we look forward to being part of another highly successful development by Duball. Woodmont View will be part of the vibrant Bethesda community and EagleBank is proud to be associated with it," Paul said.
Founded in 2004, Duball also is developing Rockville Town Center—a mixed-use project including The Upton Apartments, a Cambria Suites hotel and street-level retail—scheduled to be complete in 2015.