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White Flint District: Federal Realty Offers Deals to Renters Who Work Near Pike & Rose

First set of residences will be available in May

Federal Realty Investment Trust is offering incentives to renters who work near Pike & Rose, a development in the White Flint district. A 174-apartment complex within the development is expected to start leasing in May 2014. Credit: FRIT
Federal Realty Investment Trust is offering incentives to renters who work near Pike & Rose, a development in the White Flint district. A 174-apartment complex within the development is expected to start leasing in May 2014. Credit: FRIT

People who work near the Pike & Rose community in the White Flint district are being offered incentives—discounts on rent, waived fees—to live near their jobs.

Under a what’s being called a “Preferred Employer Program,” those interested leasing at PerSei—a 174-apartment development expected to start leasing in May—could be offered waived fees and security deposits and $250 off the first month rent if they live close by, Federal Realty Investment Trust announced in a news release Monday.

Also, the first five employees from the same business who sign leases at PerSei will receive a 1 percent monthly discount. Discounts increase to 2 percent if between six and 10 employees sign leases and caps out at 3 percent if as many as 15 employees sign leases.

According to Federal Realty, the apartments at PerSei range from 615 to 1,585 square feet. A second residential building, the 319-unit Pallas, is expected to open in 2015.

The employee program will be administered by Bozzutto.

Pike & Rose is a 24-acre, mixed-use project named for Montrose Road and Rockville Pike, replacing the outdated Mid-Pike Plaza strip mall. The proposed 3.4 million square-foot project is part of the broader revitalization of White Flint and boasts a roof-top garden, indoor and outdoor music venues, restaurants in addition to upscale residences.

Specifically, the project will include 1.1 million square feet of commercial office space, 430,000 square feet of retail space, 1,500 residences, a boutique hotel and approximately 4,000 parking spaces. 

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