Plans for 29-story mixed-use building in downtown Bethesda moving forward
Proposal includes demolition of two office buildings at Wisconsin Avenue, East West Highway
By
Elia GriffinJuly 30, 2026 11:33 a.m. | Updated: July 30, 2026 11:39 a.m.
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MRP Realty and Prime Finance Partners, the developers behind plans to demolish two vacant office buildings in downtown Bethesda and replace them with a 29-story apartment building, received the green light from the Montgomery Planning Board on July 23 to move forward with the mixed-use project.
Dubbed Bethesda Crescent, the project proposes demolishing two office buildings prominently situated at the corner of Wisconsin Avenue and East West Highway in downtown Bethesda. Developers propose construction of an apartment building at 7475 Wisconsin Ave. that could include up to 420 residential units in place of the offices.
Washington, D.C.-based MRP Realty is behind more than a dozen mixed-use residential projects in the region, including The Wren in D.C.’s Shaw neighborhood. The Bethesda property appears to be the company’s only mixed-use residential venture in Montgomery County, according to the company’s website.
At its weekly meeting on July 23, the Planning Board reviewed plans for the first phase of the project. The first phase includes development of a 302-foot-tall mixed-use building at the corner housing up to 420 apartments, 17.6% (74 units) of which will be moderately priced dwelling units, according to planning documents.
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MRP Realty Vice President Nick Gordon said at the meeting that the project came after the company, in partnership with Prime Finance, purchased the Bethesda Crescent office space portfolio in August 2025. According to the Washington Business Journal, the properties were sold for $28 million after the former owners defaulted on their loan.
“We acquired the property portfolio kind of via distressed purchase … so we viewed the highest and best use of this property as residential versus office, just given some of the challenges and headwinds with trying to lease large blocks of office space,” Gordon told the board.
Developers also proposed 11,500 square feet of new ground-floor retail space in the new building, public plaza areas with outdoor café seating, as well as an underground parking garage with 269 spaces, according to planning documents. Plans also call for retaining more than 157,000 square feet of existing commercial space, documents state.
Board Chair Artie Harris and Commissioner Shawn Bartley praised the project at the July 23 meeting.
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Harris said that the building’s proposed parking-to-resident ratio was relatively low, noting an entrance to the Bethesda Metro station is integrated into the building’s design.
Bartley described the project as “outstanding” and said it would be a beacon at the entrance to downtown Bethesda from East West Highway.
No members of the public provided testimony during a public hearing portion of the July 23 meeting about the plans.
The entire proposed development site consists of four properties at the corner of Wisconsin Avenue and East West Highway: 4600 East West Highway, 4650 East West Highway, 7401 Wisconsin Ave. and 7475 Wisconsin Ave. The first phase of development focuses on redeveloping buildings at 7475 Wisconsin Ave. and 4650 East West Highway. A second phase of the project plans redevelopment of the building at 7401 Wisconsin Ave.
The site is across from the Chevy Chase Trust building, the Hyatt Regency Bethesda hotel and Bethesda Metro station.
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The properties proposed for redevelopment are home to businesses including Ceremony Coffee, Charles Schwab and Econometrica Inc.
According to planning documents, developers anticipate the office building at 4600 East West Highway — home to Andy’s Pizza, the Waverly Street Gallery and Green & Bean Boutique — will continue its operations in the near term. In the future, the property may be subject to redevelopment plans.
A feature of the building at 7475 Wisconsin Ave. that developers plan to keep is its publicly accessible entrance to the Bethesda Metro. The entrance leads pedestrians through an underground tunnel beneath Wisconsin Avenue to the station’s main entrance. Redevelopment plans propose making the entrance accessible from the street level rather than inside the building.
The board also reviewed and approved Thursday a forest conservation plan and an administrative subdivision request from the developers to subdivide the four properties into three lots.
The view of the Bethesda Crescent office building in downtown Bethesda from Old Georgetown Road. Photo credit: Elia Griffin 
The view of the Bethesda Crescent office building and a vacant two-story commercial building at 4650 East West Highway. Photo credit: Elia Griffin 
Three properties part of the Bethesda Crescent office building portfolio line an entire block of East West Highway in downtown Bethesda. Photo credit: Elia Griffin
Commercial to residential redevelopment
The project is another commercial-to-residential reconstruction project moving forward in the county. On July 23, the board also reviewed plans that call for redeveloping a mostly vacant medical office building with a 148-unit apartment building at 831 University Boulevard East in Silver Spring.
Developers sought approval for Bethesda Crescent as a “Commercial to Residential Reconstruction” application under the county’s expedited approval process.
In April 2025, the county approved and enacted a zoning text amendment that created the commercial-to-residential reconstruction use and allowed for an expedited approval process for applications that fall under that category.
Gordon noted that the expedited approval process was a “tremendous lift” for getting the project moving forward, and quickly. He said that keeping the building in its current use just “didn’t make sense.”
According to a staff report on the recently approved plans, as of the July 23 meeting, the planning department had not received any community correspondence regarding the application.
What’s next?
Gordon added that plans for the exact number of units in the mixed-use building are still being determined and noted that all units will be rental. He added that developers are also still “refining” the mix of unit types in the building, whether that be studios, one-, two-, or three-bedroom units.
Developers aim to complete the full schematic design of the first phase building by August and will soon seek out a demolition permit. Gordon did not provide a clear timeline for demolition and construction at Thursday’s meeting.
He added that the second phase of the project, which focuses on redeveloping the building at 7401 Wisconsin Ave., is still being planned. According to Gordon, the second-phase building will have a height similar to the building being constructed in the first phase.
“There is a lot of work left on that part of the plan,” Gordon said.
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Originally published at Bethesdamagazine