Fivesquares Development, a real estate developer based in Washington D.C., recently celebrated the grand opening of Strathmore Square’s first phase. This transit-oriented neighborhood is located in North Bethesda and was developed in collaboration with Apartment Investment and Management Company (Aimco).
The first phase of Strathmore Square includes 220 apartment residences divided into two distinct offerings: Ravel and Royale. Upon completion, the entire neighborhood will span 2.2 million square feet.
“We are excited to mark this milestone as we open the first phase of Strathmore Square,” said Andy Altman, CEO and Co-founder of Fivesquares Development. “This project reflects our dedication to creating dynamic communities that embrace culture while also being easily accessible through public transportation.”
In addition to its commitment to developing vibrant communities, Fivesquares has also received support from Amazon through their Housing Equity Fund. As part of this initiative, Amazon has pledged $24 million towards financing for over 20% of Phase I & II units at Strathmore Square as affordable housing options.
Overall, the opening marks an important step towards transforming North Bethesda into a thriving community that combines nature with accessibility and cultural experiences.
