Business & Tech
Planning Board: Pike & Rose Can Move Forward With Second Phase
Approval will allow Federal Realty Investment Trust to move forward with transformation of Mid Pike Plaza Shopping Center on Rockville Pike.
Montgomery County Planning Board approved on Thursday plans for additional development at Pike & Rose, a 3.4 million square foot mixed-use project currently underway in White Flint.
The approval will allow Federal Realty Investment Trust to transform approximately 1.6 million square feet of space—including what’s left of the Mid Pike Plaza Shopping Center on Rockville Pike—into six city blocks and would accommodate more than 460 residences, a new park and a 200- to 300-room boutique hotel, according to Federal Realty Trust.
The plans also call for 1.4 million square feet for office space and a total of 200,000 square feet for retail.
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Located at Rockville Pike and Montrose Parkway, Pike & Rose project is part of efforts to revitalize White Flint. The project will encompass 450,000 square feet of retail and 1,500 residences.
The first phase of the project is already underway and will begin opening in 2014.
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