Rockville, Md.  — Federal Realty Investment Trust has broken ground on Pike & Rose, a 3.4 million-square foot development in Rockville.

The project will feature 450,000 square feet of retail, 1.1 million square feet of office space, 1,500 residential units and a 250,000-square foot hotel. The mixed-use redevelopment will replace the 231,000-square-foot Mid-Pike Plaza.

Redevelopment plans for the 24-acre parcel include converting the existing surface parking and strip mall into a pedestrian and bike-friendly development with green spaces. Phase I of the project will open in 2014.

The transit-oriented neighborhood is part of an initiative approved by Montgomery County to revitalize the area. Pike & Rose, designed by Streetworks, WDG Architecture and Design Collection, is the first major project to break ground in the designated White Flint District since the approval of the master plan, according to Federal Realty.

— Brittany Biddy