Now the owner of the classic building that currently occupies the spot is floating a 2-story, glass facade building for retail and/or restaurant use. Developer Norfolk-Cordell II, LLC says, optimistically, the "new" building will open in early 2013, and that one floor is already leased.
The concept illustrations, and 2 story height, suggest a renovation of the current building, rather than a demolition of it. If that's the case, while I think even the existing building design could be made to work, a renovation would be better than knocking it down.
The corner is a prime spot on Norfolk Avenue. Long-term-minded investors should know that Norfolk is planned to be the "Bethesda Avenue" of the future, redeveloped "Old Town Bethesda."
That makes it a great location to be in, once new residential buildings are constructed and occupied. There's also a vacuum for a restaurant that is in between the high-end, fine dining of Tragara and Grapeseed, and the more casual spots like Freddy's Lobster and soon-to-open Smoke BBQ.
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