North Bethesda zip code 20852: ready, set, go!

Big development plans are underway in Rockville's 20852 neighborhood, known as North Bethesda.

With close proximity to several Metro stations and MARC, lots of shopping and convenient to downtown, as well as major highway arteries, this area's real estate is set for take off in future years. North Bethesda Town Center is a transit oriented development to be built near the White Flint Metro station. It will include 1.2 million square feet of office, 200,000 square feet of retail and 1,350 residential units on 32 acres.

Montgomery county's tallest residential building, and Rockville Pike's largest recent project, North Bethesda Market, is nearing completion. The leasing office is already open and taking applications. Developer JBG has begun efforts for a second phase, seeking an increase in density for new office and residences that will produce demand for the 200,000 s.f. of retail stores built in the first phase.

Architect Torti Gallas' said his goal is to maintain the "concept of an intimate, pedestrian-oriented, retail lined street" that is meant to tie together the residential and the commercial. Announced earlier this summer, restaurants Season 52 and Dolcé Amoré Café, along with Arhaus, a big name in furniture, will join Whole Foods and L.A. Fitness at the round table of tenants in the nearly completed North Bethesda Market.

Residential real estate prices have levelled off since the peak in 2005. Median home sale prices in 2006 were at $401,000 and fell to $370,000 in 2006. But by this spring, signs of a rebound were already in the air. April 2010 saw the average sold price at to $401,000, up from $392,000 in April 2009, and 17% of the sales were for more than list price.