BETHESDA, MD—Federal Realty Investment Trust has created a new senior-level position and recruited an executive from Forest City Enterprises for it. The role is senior vice president, Mixed-Use Development and Ramsey D. Meiser has been selected to fill it with a start date of January 5, 2016. He will report to Executive Vice President of Development Donald Briggs.

At Forest City Meiser was SVP of Development. He spent much of the past decade overseeing development at The Yards, Forest City's six-million square foot mixed use development near Nationals Park. Prior to Forest City, Meiser spent nearly 16 years at the Mills Corp.

At Federal Realty, Meiser will manage Federal's multi-billion dollar mixed-use development pipeline in the Mid-Atlantic region. His first focus will be on Pike & Rose, in North Bethesda, which is currently building out Phase II. 

In the third quarter earnings call, CEO Don Wood reported leasing began over the summer on one of Pike & Rose's high-rise apartment buildings – the Pallas. He said that 100 of the 319 units in that building are leased "faster than we anticipated at rents in line with our pro formas."

Wood also noted that there have been cost overruns on construction of approximately $10 million on the project, largely due to the facade and the skin of the building.