Miles SmithAn initiative to hire a developer to build a transit-oriented life sciences center near public transportation in North Bethesda, Maryland, is officially underway.
The Washington Metropolitan Area Transit Authority recently issued a request for qualifications for a developer with experience creating life science hubs. The new development will include housing, office, retail and public spaces near the North Bethesda Metro Station.
Developers must submit their response by Oct. 29.
After selecting a developer later this year, Metro will negotiate a joint agreement allowing development of the nearly 14-acre site. The project is anticipated to include approximately 2-4 million square feet of development.
The University of Maryland’s Institute for Health Computing will anchor the future development. The newly formed research and technology institution is planning to locate its permanent headquarters on the site, which is expected to generate spin-off jobs.
The county is providing infrastructure funding and economic development incentives. It has also helped establish a higher education-affiliated research institute to attract life science and technology businesses, Montgomery County Executive Mark Elrich said.
“In just a few years, the North Bethesda Metro station will become the epicenter of the region’s life science community – rarely has our region seen such a valuable placemaking opportunity for development,” Elrich said. “As I have traveled around the world and throughout our nation targeting life science and other advanced technology companies, this property, anchored by the University of Maryland Institute for Health Computing, has generated an incredible amount of interest.”
The county has secured $36.6 million in local, state, and federal funding for infrastructure supporting the project, including streets and utilities, public open spaces and transit improvements, Montgomery County said. The county said it was also willing to work with the selected developer to address any other infrastructure needs,
Montgomery County officials are also seeking a $25 million USDOT RAISE grant to help integrate a new north entrance to the Metrorail station into a building on site.
The county and state have also committed $65 million through 2028 to support the startup of the institute. The project will continue to receive support in 2029 and beyond via an annual $6 million grant.
Montgomery County Executive Marc Elrich and Metro General Manager and CEO Randy Clarke have signed a Memorandum of Understanding, affirming the County’s and Metro’s roles and commitments to the project.
“This is a win for Metro, a win for the County, and a win for the region,” said Metro General Manager and CEO Randy Clarke. “Metro’s strategic plan calls for maximizing the use of our land for the benefit of the region, and to increase ridership with new transit-oriented development. This agreement is the first step to transform an empty field into a world-class life science-anchored community.”
Photo by Rainclaw7
