StonebridgeCarras and PN Hoffman have formed a joint venture (JV) with Northwestern Mutual to develop a $200m mixed-use project in Bethesda, Maryland, US.

SK&I Architectural Design Group has designed the project, while the Clark Construction Group is the general contractor.

The residential part of the development features an 88-unit luxury condominium called The Darcy, and The Flats, a 162-unit apartment building.

The construction work on the project is expected to start in January 2012.