A proposal to build a 315'-tall apartment tower at 7820 Wisconsin Avenue in Bethesda appears to have hit another snag. One of several properties assembled for the mixed-use project recently went back on the market, seeking a "long-term" tenant. A new online listing reveals what "long-term" means in this case. The vacant EagleBank building at 7815 Woodmont Avenue is now available for a 10-year lease term, at a negotiable rate.
Bethesda-based AMR Commercial, LLC is suggesting several possible uses for the 3 units within the former bank headquarters, such as a bank, restaurant, medical or veterinary clinic, retail store or brewery. The building has a drive-thru, which provides a ready-to-go amenity for a bank, drugstore or fast food restaurant. All 3 of the spaces can potentially be leased separately, combined in any way, or fully-filled by one large tenant.
Unless plans change again, this would mean that we won't see any redevelopment of this site for at least a decade, or it will be a smaller-scale project that excludes the bank building. If so, that would be good news for nearby residents, and for customers of the busy 7-Eleven. The high-rise plan was controversial, as a late change drastically reduced the public green space that was originally proposed, Montgomery County failed to realize the planned expansion of Veterans Park onto the site, and the undesirable functions of the building were located to face residents of the Fairmont Plaza condos rather than toward the commercial and office buildings in the opposite direction.
Probably going to be fewer big money projects and more 'scared money' pop ups and small enterprises as the urban problems seep into South Bethesda from DC, PGC, SS, and Wheaton. I'm not so sure the Purple Line is considered such a boon among prudent investors. The push is Go North!
ReplyDelete5:08 AM - Speaking of scared…
ReplyDeleteI wonder if they may have missed their window given Bethesda has already exceeded the soft cap for new construction and will be pushing up against the hard cap very soon.
ReplyDeleteBetween the new high rise delivering within the next few weeks at the former La Madeline site, the Fairmont/Elm high rise that is going up, the Battery Lane makeover set to begin in Q1 next year, the Women's Farm Market development set to begin in Q1 next year, the new high rise planned for the Starbucks/JosAbanks location and finally the high rise on Wisconsin where the Army Ranger store was - I think the hard cap will officially be met. Not to mention, Bethesda will have to deliver the green space requirements that were put in place when the cap was set.
I know there is a lot of whining about the large scale development in Bethesda but overall I think it has been fairly smart planning and the buildings that have gone up/ are going in replaced buildings that had become obsolete - for the most part.. I could have done without the Fairmont/Elmo high rise going in right now but the added density should support a revived retail scene. I was out in Bethesda last week and basically every restaurant/bar was hopping. More restaurants are eyeing Bethesda given all of the problems in DC right now and we have already seen some big new arrivals such as The Salt Line. That trend should continue. I never put it past the Jawandos, Minks, and Elrich's to screw things up though.
I wouldn’t be concerned about the “hard” cap. I can guarantee you that council will pass a ZTA to amended the Bethesda Master Plan to get around this limit. And as far as having to deliver the green space… yeah, right.
DeleteAbsurd to suggest purple line is a net negative for projects. Interest rates are what is going to slow down these big projects.
ReplyDeleteThe Purple Line's route isn't 'urbane' enough to attract more big money to fund big projects. The Model relies on those well heeled enough to consistently drive in isolated in their cars and park. One doesn't go to upscale stores and tony restaurants by the Metro. Who's gonna take their date out to shopping and a movie then return with their packages on the subway? Come on, man!!
DeleteIt's gonna be a big 'net negative' for Bethesda residents, you can count on that!
DeleteWill Bethesda ever get the upscale nightlife that aligns with it being among the most educated and affluent areas of the country?
ReplyDelete"appears to be on hold", that's like Cape Canaveral, the launch will occur you can best believe it will.
ReplyDeleteIf true, this will be a huge missed opportunity. 10 years is a very long time (although there will probably be early termination clauses) with multiple cycle changes and opportunities for market conditions to ripen over that stretch. The site is literally adjacent to the largest, most prestigious private employer in Montgomery County!
ReplyDeleteThe Veterans Park idea was ill conceived at the get go. Why would you "expand" a park onto a narrow sliver of land across a busy thoroughfare?