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Federal Realty to Start on Phase One of $250M Mid-Pike Plaza

ROCKVILLE, MD-The REIT has committed $250 million to the first phase of the project, CEO Don Wood tells GlobeSt.com’s Erika Morphy, and is ready to launch in 90 days.

By Erika Morphy | Updated on April 25, 2012

ROCKVILLE, MD-Federal Realty Investment Trust expects to break ground within 90 days on its long-anticipated redevelopment of Mid-Pike Plaza here, CEO Don Wood tells GlobeSt.com. The REIT has committed $250 million to the project’s first phase, which will include 500 apartment units above 150,000 square feet of retail. There will also be 80,000 square feet of office in phase one.

The entire project will be more than twice the size of phase one, Wood says. The approved master plan calls for 1.7 million square feet of office and retail and more than 1,500 residential units.

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