This continues the collapse of high-end retail in Chevy Chase on the Maryland side of the border. The Chevy Chase Land company has announced a major transformation of its Collection at Chevy Chase retail center, where A-listers like Louis Vuitton have fled, following the money back into the District. As the poor, middle class and millenials flee rising housing costs in D.C., new retail hubs like CityCenterDC cater to the ultra-rich.
As I reported earlier this year, the wealthy are fleeing tax-weary, economically-moribund Montgomery County in great numbers. Exiting residents took $1.8 billion in adjusted gross income with them to Frederick County alone, according to a study by the website How Money Walks. $643.09 million went to Fairfax County with MoCo expatriates; those leaving also took $615 million to Howard County, and $494.85 million to Anne Arundel County.
Why is the money walking? Ask the County Council, who raised taxes to record levels this past May. As U.S. Supreme Court Chief Justice John Marshall famously said, "The power to tax involves the power to destroy."
One of the most intriguing statistics about the decline of wealth in Montgomery County, or perhaps the selfishness of the wealthy who remain? A full month after the catastrophic explosion at the Flower Branch Apartments in Long Branch, Montgomery County residents had only given $600,000 in cash for the victims to restart their lives.
$600,000.
Where have Montgomery County's generous tycoons gone? If they haven't left, they're donating more money to politicians like our impotent County Council than to the undocumented immigrant victims of the Flower Branch explosion. What's more sad? The money that's fled? Or the fact that David Trone, County Council sugar daddy Mitch Rales, John Delaney, Dan Snyder and the few other MoCo billionaires who remain could have easily written a $1 million check apiece, but obviously didn't?
Don't tell me Saks Jandel suddenly "went out of style." There have been dozens of fads and revolutions in fashion in 128 years. But only now is Saks Jandel closing. The best in fashions from Paris never go out of style. But Saks Jandel's target customer is rapidly heading for greener, lower-tax pastures elsewhere. New developments in the County are signing low-to-upper-mid-range retailers, with the exception of Bethesda Row, which may default to taking the place of Chevy Chase's former "Rodeo Drive" in Friendship Heights.
With the MoCo political cartel's push to keep term limits off the ballot this November having been crushed in Maryland court last Friday, the last rodeo may indeed be ahead for a majority of our inept, incompetent, Masters-Degree-in-Taxation County Council.
Auf wiedersehen!
85 comments:
I don't agree. Saks Jandel is a thing of the past. You're correlating where you shouldn't be. The ultra rich would rather go down the street to Neiman Marcus or Bloomingdales is all. Those aren't closing, right?
You say residents are fleeing the county, but why do million dollar townhomes keep getting built around here?
5:38: The ultra-rich shopping at Bloomingdale's and living in townhomes? Your definition of "ultra-rich" must be different than the rest of the world's.
Willing to bet a lot of the clothes in Blooms is more expensive than in Jandel, and why wouldn't they shop there?
Older wealthy that are empty nesters love this idea of a townhome with an elevator and luxury finishes, have you seen the demand at places like Little Falls Place?
5:38 bloomingdales is a store for the rich, it's not jc penny and macy's
6:19: Remember, we're talking about ultra-wealthy here. They don't have what Saks Jandel has at Bloomingdale's. Some of it was exclusive to them.
More idiotic speculation from Dyer. Did he even read the Post's article?
6:50: Yes, I did. Do you believe the business wouldn't be sold if it was raking in massive profit? Or are you going to join Frank, the last guy who took at face value what a business owner said about closing?
Let's face it, all the high-end shops are closing in Chevy Chase. Humiliating for the County Council. No wonder they're big fans of Costco - that's the future of Montgomery County, along with people warming their hands over trash can/barrel fires and flipping burgers for a living on their $11-15 MoCo "living wage."
7:01: That's some vulgar "locker room talk," Mr. Troll. Now back to the issue at hand - the disastrous economic development record of the Montgomery County Council. I'm sure they'd rather talk about Donald Trump, too.
I have shopped at Saks Jandel and Saks Watergate when they also had that store. Beautiful, exclusive and couture. Their staff is lovely, knows their clients, and won't hesitate to call when something you'd like comes in. And they know Washington and its unique fashion style.
This store is way beyond Bloomies or Claire Dratch.
And with all the inaugural balls and parties coming up in 2017...
I'll miss them.
Send the rich to the guillotines.
Did you ever shop there, Dyer? You didn't? Then you're part of the problem.
Also, since Saks Jandel was just two blocks from the District, doesn't that make the District equally to blame?
"The ultra-rich...living in townhomes?"
Robert Dyer, lifelong resident of Bethesda, has never ventured into Georgetown.
7:17: The store is targeted to women, not men. If you don't even know what Saks Jandel is, why are you arguing over it, other than to protect your beloved bosses on the impotent County Council?
7:28: No one is confusing an industrial area off Little Falls Parkway with Georgetown, my friend.
The mean streets of Westbard.
And now comments are blocked for articles about ArcLight, joining crime reports, Greenhill and Montgomery Mall in Dyer's War on Free Speech.
More garbage from the unstable lunatic.
Number of households making $200,000 or more in Montgomery County:
2010 - 48,589
2012 - 54,174
2014 - 57,958
Source: Census Bureau (i.e. Not Dyer's lies and delusions):
wtf? This is the dumbest rant I've ever read on here, and that's really saying something.
Saks Jandel is sort of an old person's store. If it isn't working in Chevy Chase, where all the old people are, it's certainly wouldn't work at City Center, where all the young people live.
Let them eat cake.
Millennials are also shunning luxury goods. I imagine within the coming years many of the luxury stores that have opened recently at City Center will close.
http://blogs.wsj.com/moneybeat/2016/10/02/millennials-buying-gucci-are-a-rare-breed/
8:49: $200,000 a year isn't "ultra-wealthy." Especially not in overpriced Montgomery County. You'll have to go higher than that.
Maybe the market for gaudy trinkets is drying up.
Also look at the poor reviews https://www.yelp.com/biz/saks-jandel-chevy-chase. Looks like they had a hand in driving customers away.
9'08: Oh, so your boss on the County Council is upset that the truth is being published about the MoCo political cartel, instead of the drivel we get elsewhere about our "wise and wonderful County Council"? Too bad.
What do you think is the reason that Montgomery County is "overpriced", Birdbrain?
Dyer likes rich old people cuz he's a rent boy.
The erosion of luxury retail in Chevy Chase is breathtaking.
The failure of The Collection is particularly worrying.
"The failure of The Collection?"
It's not like half the storefront are empty. When the luxury retailers realize that the wealthy aren't going all the way downtown to shop for their $1,000 shoes and $5,000 watches, they'll be back. A customer base composed entirely of well-heeled tourists and office users on lunch won't be enough.
*storefronts
Yelp reviews for Saks Jandel, millennials not buying designer, $200,000 income, $5,000 watches, $1000 shoes.
You have no idea how preposterous you are being. You're still talking upper middle class.
10:09 AM Have you been by The Collection recently? There are several large empty spaces with windows covered by trash bags. The ultra lux concept pretty much failed.
Oh, and that Giant there sucks. That's a whole different story. Dyer could write a series on that disaster of a store.
9:46: The County Council.
Yes, that Giant is not my favorite.
-Small, even though it was built relatively recently.
-Weird parking layout.
-No self-checkout.
-No small carts available.
Birdbrain @ 11:08 - What would you do to lower housing costs in the County, if you were elected?
11:11 AM They have a bunch of checkouts and usually 1 or maybe 2 are open. Means long lines.
And there has been times that they've closed before the posted time (10pm) without explanation. They simply locked the doors.
11:20 AM well, not bulldozing the existing affordable housing stock by transit and replacing with ultra luxury buildings like The Lauren would be a start.
What say you, 11:20AM birdbrain?
@ 11:47 - The only place existing affordable housing has been replaced by "ultra luxury buildings" is on the block of Hampden Lane between Woodmont Avenue and Arlington Road. That can't possibly be the cause of the high housing costs Countywide.
I would make the schools shitty, do not repair infrastructure, and promote crime. Watch housing prices plummet!
Which news site says "our wise and wonderful Council?
11:47 - Why are "ultra luxury buildings" being built if "the rich are fleeing Montgomery County"?
1:05 PM Sounds like the current Council. No Blue Ribbon Schools, Red Line closures, Bethesda Metro station problems, no solutions for 495/270 Interchange traffic crisis... and we know about crime influx via Dyer's crime blotter.
1:53 PM sounds like #UnsignedDyer.
1:53 If things are so bad I bet we will see the housing supply to overtake demand and for prices to plummet. Rejoice for the future affordable housing.
A couple of questions for 1:53 PM:
1) How many MoCo public schools actually applied to be considered for the Blue Ribbon?
2) Are the two sections of the Red Line the only parts of the Metro system which have had closures under the recent maintenance program?
3) Assuming that you are not actually him posting anonymously, are you aware that Robert Dyer opposes widening the Beltway between the I-270 spur and the American Legion Bridge?
4) How do Dyer's crime digests actually show a "crime influx" recently?
2:30 PM Nope, prices won't plummet. People need places to live and Bethesda is still desirable despite the Council taking their eye off the ball.
All of these problems have been building for years (schools, transportation, jobs). No reason to promote or reward councilmembers who were part of this mess (or asleep at the switch).
Bad schools, transportation and jobs. Seems like that is the antithesis of desirable. Surely housing prices will go down.
We're seeing a lot of photo ops by the County and State on the I-270 traffic crisis, but not much in concrete proposals.
There's really not capacity to work with the current lanes. Both sides are jammed every evening rush hour.
Why is our Ride On bus fleet so bad? Metro bus and Fairfax Connector have superior buses.
If Dyer is elected, housing prices will plummet. And he won't even have to lift a finger.
The people who used to shop at Jandel are dead .Thats why they are closing.
4 minutes this time.
3:47pm sounds like George Leventhal. Same professional demeanor.
Why is the MoCo young Dems crowd so creepy?
2:41: Sorry, punk, Real Dyer responding undet his real name now - something you lack the guts abd manliness to do.
YOU LIE. I do not oppose widening the Beltway, Saul Alinsky. I've corrected you 1000 times on that - I opposed a widening plan floated in 2006 that would have required demolition of homes in Bethesda. If you and Hans Riemer support demolishing homes in Bethesda, I think voters may have an interesting response to that.
There certainly has been an increase in homicides, stolen vehicles and rape countywide in the last 12 months.
2:56: No, the next generations of the ultra-rich aren't dead - they're just living in lower tax jurisdictions now.
"Real Dyer posting under his real name now"
Are you saying that you don't always do that?
It is the crime
Crime
Crime
There are burgularies every day in Bethesda
Every night 10 vehicles stolen
When people don't feel safe they leave
The inner city scum of DC moved to Prince George, Montgomery village travel beltway to rob thieve in Bethesda
If Dyer were black, he would have been stopped by police dozens of times, for prowling the streets of Bethesda at 3 AM.
Heck, he probably would have been shot by now.
5:23: No, "Mr. Dumass," just when you accuse a reader commenting of being me. All of my comments are under my name, idiot.
6:26: Now this does sound like George Leventhal and Hans Riemer, who accused County police of racial profiling - with no evidence - for their own political gain in 2014. Shameful. We need a Council that supports our police officers., especially when the Council has helped create a dangerous gang situation in the County.
That store had "old-people smell".
Proof positive that 6:57 has never been inside Saks Jandel.
It smells like old money. Not gaudy and crass new money.(waving to Poppy)
There has never been a burgulary in Bethesda.
You are saying that Gen-Xers and millenials are "(e.g.t the people who spend money)?"
I'm laughing all the way to the investment company.
You have no concept of the ultra-wealthy.
I'm shocked Poppy hasn't commented on this story yet
You clearly didn't pay attention to anything other than the store closing. His business is still thriving, but it's closing because he wants to focus on his real estate investments and none of his kids want to take over the boutique. https://www.washingtonpost.com/news/arts-and-entertainment/wp/2016/10/09/saks-jandel-a-legendary-washington-boutique-will-close-after-128-years/
7:19 AM - Gen-X'rs are in their 40s and 50s. If you want to open a store that sells only to people eligible to be in AARP, good luck with that.
10:46 AM Dyer is just another Trumpster, he only hears what makes him look good, fact or fiction. In simple terms LIAR.
10:46: And so why isn't he selling this smashingly-profitable business, then?
1:58: Considering the article contains specific numbers for how much wealth has exited MoCo to just a few counties, and the literal fact that our vaunted "Rodeo Drive" of high-end shops is collapsing, it is YOU who is the filthy liar.
9:00PM The Marx family was committed to keeping the business in the family. Period.
From the beginning-always in the family. No one in the family is interested right now? Then they close.
"the literal fact that our vaunted "Rodeo Drive" of high-end shops is collapsing"
A mini-mall of four shops is being remodeled, and it's a "collapse"? More stores than that close in a typical month in Montgomery Mall nowadays.
4:32: It's a collapse when all your tenants leave. The business model of the Collection is totally different from a mall. Their business model has cratered, mainly because a significant number of their patrons have moved elsewhere because of high taxes. It's a total humiliation for the County Council.
8:42: Many business owners say things publicly to put a positive spin on things. As a journalist, you can't simply take everything at face value.
"As a journalist, you can't simply take everything at face value." So it is best just to make up your own reasons without any evidence.
Mr Dyer, please. Ask anyone who knew them, worked for them, shopped with them.
This is a business built on honor and reputation.
To imply anything else is short-sighted if not ignorant.
There is a difference between "taking something at face value" and "questioning something's veracity." One would expect a "journalist" to research before attempting to disparage.
Just my opinion.
Meanwhile, I had a yummy Smashburger yesterday, 21 months after Dyer proclaimed that the restaurant was closing.
12:48: No need to invent evidence - just walk up and down to see the vacant storefronts that used to be the "Rodeo Drive" of Montgomery County. The policies of the County Council have driven away many of the patrons of these shops. Deal with it.
8:29: I never proclaimed it was closing. I did report it is available for lease, which is a fact. You said Pizza Pass and Bethesda Barbeque weren't closing. They did. You said BBQ was reopening as a deli. It didn't. The record is clear. You got played. You were RickRolled by the angel investors, chump.
1:36: Reporting the closure of most of the high-end shops in Chevy Chase, MD is not disparagement. But it is holding our elected officials accountable for their failed economic and taxation policies.
In spite of Dyer's pathetic attempts to whitewash his claim, the URL of his article speaks for itself.
http://robertdyer.blogspot.com/2015/01/report-smashburger-to-close-in-bethesda.html?m=1
6:12: The URL also shows that I never said it was closing; I linked to a report from another source. What a moron.
"You were RickRolled by the angel investors"
What on Earth are you trying to say with this word salad?
6:41: The anonymous folks who fund your favorite website and you RickRolled you about the deli. You fell for it hook, line and sinker. Why don't you go pick up a pastrami sandwich for lunch?
Clearly "Anonomous" allows Santa and the Easter Bunny to shop for him. I buy toaster ovens and bath mats in Bloomingdales (including their Flagship Stores in Manhattan.) Some of the most special and high end items in my closet have come from Saks Jandel. I am 44 years old, single and make the effort to dress well.
If I want my Bagels to be hot, I use what I have purchased at Bloomingdales. If I want TO LOOK HOT, then it is my wardrobe from Saks Jandel. HOT FOOD --- .Bloomingdales'---HOT OUTFIT---Saks Jandel.
If you believe that DC's (even NYC's) BLOOMINGDALES is high end clothing comprable with the clothing sold at SAKS JANDEL, it is no wonder you would desire to remain ANONOMOUS. I would too.
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