The development company JBG broke ground Monday on two new apartment developments near the Twinbrook Metro station in Rockville.
Tammy Murphy, public relations manager for Maier & Warner PR/Marketing, which represents The JBG Cos., said in an email that The Terano will have 206 apartments and 33,000 square feet of retail, including Revolution Cycles.
The Terano, at 5700 Fishers Lane, is the next phase in a development project built as a joint venture with the Washington Metropolitan Transit Authority that includes another building called The Alaire. Rod Lawrence, a partner with JBG, said WMATA owns the land and JBG is allowed to build on it in exchange for replacing any infrastructure, such as parking, that needs to be relocated.
The project is expected to include two more phases of apartments, condos and offices nearby, Lawrence said.
JBG also broke ground on Galvan at Twinbrook, at 1800 Rockville Pike. Galvan is slated to have 356 apartments and 100,000 square feet of retail, more than half of which will be taken up by a Safeway grocery store. It is expected to be completed in 2015, Murphy said.
Lawrence said the Galvan site was previously a retail center with an Ethan Allen store, which recently moved to another location and plans to move back in to the Galvan after construction is completed.
“Interest has been very high from other retailers to co-locate with Safeway and also to be right on Rockville Pike and have that visibility,” Lawrence said.
Rent prices for the apartments in the two buildings are expected to be similar to those at The Alaire, Lawrence said. According to The Alaire’s website, rents for the units range from $1,485 to $2,575.
Developers are required under Montgomery County law to designate a certain percentage of new apartments as moderately priced dwelling units. Each of JBG’s new buildings will rent 15 percent of its units as MPDUs.