Earlier this month, I learned that the former home of The Jewelry Exchange at 7747 Old Georgetown Road in Bethesda had been sold. Now the new owner is known, as well, and it boosts the likelihood of a future redevelopment of the site. Bethesda-based Stonebridge has acquired the property for $3,600,000, according to Maryland real estate records.
The development firm has already delivered two major projects in downtown Bethesda, the Lot 31 mega-redevelopment (The Darcy and The Flats at Bethesda Avenue, along with the gigantic public parking garage beneath the two buildings) and Avocet Tower. It has acquired several other large properties in Bethesda and Chevy Chase, and is a major player in the D.C. market. Currently, the one-story Jewelry Exchange building is on the market for lease. It is a prime property for redevelopment, particularly if Stonebridge can assemble it with one or more of the adjoining properties along St. Elmo Avenue.
Badly needs to be redeveloped. Hopefully they can acquire the Old Georgetown Grill building in short order.
ReplyDeleteIt will be interesting to see how they deal with the neighboring 12 story high office building that has windows on the shared property line. A 175’ tall building is allowed on the site, which potential could cover all of those existing western facing office windows with a party wall.
ReplyDeleteIt would be nice to see a tall tower at that intersection, with some terminated vistas on Arlington Road.
What that intersection has been missing all these years was a block-long, 175-foot-high apartment block. That should help area traffic atrophy splendidly.
ReplyDeleteInasmuch as Atlanta is growing by leaps and bounds, there's still plenty of small town charm there in many neighborhoods. In fact, tht new and old coexist and even thrive. Bethesda used to exude that kind of charm. Modern times call for modern buildings, etc I get that. But knocking down every older/smaller structure erodes the small-town charm vibe quickly.
ReplyDeleteThis building has zero charm. That you think there is any is simply nostalgia, not reality. Bulldoze it.
DeleteIs nobody going to say, "activate the space"?
ReplyDelete3:55 Good point JAC. Princeton NJ, an upscale town for sure, used to to an excellent job of integrating new construction with beautiful historic buildings.
ReplyDeleteI don't think this old jewelry story qualifies as that. Learning
Was driving by this property the other day. The "Old Georgetown Grill" building awning looked like it was falling off and in general disrepair. I don't see it lasting much longer in that location.
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