JV FORMS TO DEVELOP $200M MIXED-USE PROJECT

BETHESDA, MD. — StonebridgeCarras, PN Hoffman and Northwestern Mutual have formed a joint venture to develop a $200 million mixed-use project, located at the corner of Woodmont and Bethesda Avenues in Bethesda. The development will contain 250 residential units and 40,000 square feet of retail space. SK&I Architectural Design Group designed the project and the Clark Construction Group has been retained as the general contractor. Stephen Conley, Dave Nachison, Alan Davis, Mark Remington and Dan McIntyre of HFF's Washington, D.C., office represented StonebridgeCarras and PN Hoffman in the creation of the joint venture. Ground breaking is slated for January of 2012.