Wednesday, February 28, 2018

Federal Realty plan would deliver new White Flint Metro entrance sooner at lower price (Photos)

The long-planned construction of a north entrance to the White Flint Metro station has been stalled since 2010. That year, Montgomery County approved the White Flint sector plan that requires the entrance be built, and WMATA conducted a study. An entrance closer to Pike & Rose, and - in relative terms - to properties north of Montrose Parkway, is considered essential to a successful redevelopment of the northern Pike District by property owners.

To try and get the ball rolling again at a time when Montgomery County councilmembers have managed to spend us into an ongoing structural deficit, developer Federal Realty hired a consultant to put together an independent study. Consultant AECOM and Federal Realty say the finished report shows the new entrance can be delivered sooner, and at a lower cost, than currently expected.

To achieve savings, the plan proposes breaking the development of the entrance into three phases. The Federal Realty proposal's price tag for Phase 1 would come in below the lowball option price of WMATA's study, which was priced in recession-era 2010 dollars, so the savings are likely even bigger than the numbers indicate. At only $11.1 million, Federal Realty's plan would deliver a functional station entrance at completion of Phase 1.

Later phases would add a station supervisor kiosk, exit fare machines, a pedestrian plaza, a bike storage facility, and employee and public restrooms, among other features and amenities. The push for the station takes on extra urgency, as the Pike District is considered the leading potential destination for Amazon's HQ 2 in Montgomery County.

While the empty former site of White Flint Mall is a major candidate, Pike & Rose is arguably the best choice for the long-term. Not only does it already have the urban "neighborhood" and entertainment, dining and retail options Amazon wants, but Federal Realty has several other large properties primed for redevelopment on the next blocks of Rockville Pike north of Pike & Rose. Amazon could end up with space to grow on the Montrose Crossing and Federal Plaza properties, which would be easily walkable from Pike & Rose - especially if a creative use or redevelopment of the underutilized parking lot north of Montrose Parkway at Towne Road is approved.
Federal Realty is now seeking to have a development study for their proposal funded in the FY-2019 Montgomery County CIP budget, and to develop a funding agreement and timetable among the County, WMATA and private stakeholders. The Federal Realty plan currently estimates the total price tag as $25.3 million.

PowerPoint images courtesy Federal Realty

9 comments:

Anonymous said...

"To achieve savings, the plan proposes breaking the development of the entrance into three phases."

"Savings", or just spreading the costs over a longer time period?

"Federal Realty proposal's price tag for Phase 1 would come in below the lowball option price of WMATA's study"

It sounds like you are comparing the cost of one phase of Federal Realty's proposal, to the entire proposal from WMATA's study.

Anonymous said...

"Pike & Rose is arguably the best choice for the long-term"

Pike & Rose is not even a candidate. It's already halfway built out, and they don't have close to the space necessary for 8 million SF.

Technically neither does White Flint Mall, but they're a lot closer, and could easily get there with upzoning.

Anonymous said...

"To try and get the ball rolling again at a time when Montgomery County councilmembers have managed to spend us into an ongoing structural deficit..."

You have a conflict of interest here that you have failed to disclose.

http://elections.state.md.us/elections/2018/primary_candidates/gen_cand_lists_2018_1__by_county_16.html

Anonymous said...

Roger Berliner lives in Pike & Rose? Awesome!

Anonymous said...

8:06am many of MoCo's leading lights live at Pike & Rose

Robert Dyer said...

7:58: That's what authority lines are for.

7:47: Actually, I spoke to a source at Federal Realty who said they want and can accommodate Amazon. As I mentioned, they've got multiple properties in that vicinity. There's no reason they couldn't get an amendment to the Pike & Rose site, as well.

Anonymous said...

Why no links to either of your sources — the WMATA and Federal Realty studies? This would allow your readers to compare apples to apples.

Anonymous said...

This article raises all sorts of ethical issues. It appears to be a news article, a paid advertisement, and a campaign advertisement all at the same time.

Anonymous said...

It’s ok, Google doesn’t consider this a news site so it’s just a personal blog full of opinions.