Business Notes: Rubenstein Meets with Trump; Major North Bethesda Development Project Set to Move Forward
Plus: GSK opens new vaccine research center in Rockville
Financier and philanthropist David Rubenstein
Wikimedia photo by Monika Flueckiger
David Rubenstein meets with Trump
David Rubenstein, a Bethesda resident and co-founder of the private equity firm The Carlyle Group, met with President-elect Donald Trump Wednesday at Trump’s private Florida resort Mar-a-Lago. Rubenstein, a billionaire who is well known for his philanthropy, was among several high-profile executives who met with Trump as he considers candidates for agriculture secretary, according to national media reports.
Rubenstein, who leads the firm that manages about $178 billion in assets, recently pledged $3 million to fund the Washington Monument’s elevator modernization project.
Foulger-Pratt expected to break ground on East Village at North Bethesda Gateway in 2017
East Village at North Bethesda Gateway via Montgomery County Planning Department.
Developer Foulger-Pratt first received approval in 2013 for the East Village at North Bethesda Gateway project, which includes 614 housing units and 38,000 square feet of retail. Now the company says it plans to move forward with a groundbreaking in 2017, according to The Washington Business Journal. The project includes two six-story buildings near the intersection of Huff Court and Nicholson Lane. Foulger-Pratt is partnering with ProMark Real Estate on the new development that will join others, such as Pike & Rose and North Bethesda Market, in the rapidly changing White Flint area.
The layout of the two buildings.
GSK opens vaccine research center in Rockville
The pharmaceutical giant GlaxoSmithKline announced Dec. 13 it officially opened its new global vaccines research and development center in Rockville. The center will house 450 researchers and, over the next two years, the company says it will spend $50 million on technology and equipment to outfit the center. The company plans to develop vaccines for shingles, dengue fever, respiratory syncytial virus, and other viruses and diseases at the facility. The Rockville site is one of three global vaccine centers operated by the company—the others are in Rixensart, Belgium, and Siena, Italy.
“Our investment here signifies our commitment to discovering and developing new vaccines across a range of pressing public health priorities, including those important here in the U.S.,” Luc Dubruyne, president of GSK vaccines, said in a statement. “It places GSK at the heart of a dynamic and cutting-edge bioscience hub in Washington, D.C.”
GSK acquired the building when it purchased Human Genome Sciences for $3.6 billion in 2012. The building is at 9911 Belward Campus Drive.