Regency's contractor is now in the process of filing for construction permits for that building, which will be on the parking lot by the "Rite Aid" entrance to the shopping center. The Rite Aid closed last year, but the bank next to it couldn't be vacated until the end of May. Regency will build the structure, but Giant will have its own contractor fit out the grocery store space.
7 comments:
You really appreciate Giant after you don’t have this grocery store any more! Great store!
Except they need more low fact I’ve cream brands and flavore
3:39: I agree. The only category Safeway was beating them in was frozen dinners, and then Giant greatly improved in that department as well over the last couple of years (while Safeway dropped some of the best frozen dinner lines they were carrying).
I have lived all of my life in Montgomery county. Used giant for a very long time. Then Harris teeter came around and it is a big leap forward.
Giant in Potomac is pretty sad sack.
According to the Regency website, they are re-thinking the timing of development at the Giant/Westwood Center at this time, so I don't understand. Here's a quote from the 2020Q1 presentation:
"We were fortunate to be in a position to continue moving these projects forward, while we assess the timing and scope of our plans. This includes projects such as Westbard Square in Bethesda. We remain excited to start these projects, when the timing is right. It’s important to note that these projects are major redevelopments of existing owned shopping centers, and a deferred timing of our incremental investment is mitigated by our ability to maintain NOI from the existing roster of tenants.
We continue to have conviction in the long-term value creation opportunities afforded by these exceptional locations. But at the same time, understand that these investments require patience and discipline, 2 cornerstones of Regency’s proven investment strategy."
7:33: I imagine they are referring to the other residential and retail projects in the plan. They know they're going to build a new Giant no matter what else changes, so they can proceed with that.
Perhaps they've looked at all the empty storefronts in downtown Bethesda, and the fact that most new apartments there are filled with airbnb guests, students and contract housing workers, and concluded that there isn't much demand for $2700 a month 1-bedrooms two miles from a Metro station. Thus an entire residential building was already scrapped for a nursing home instead.
It is very unfortunate the new developer cut so much of the retail plans. The NIMBYs won out.
@5:02 AM - You are mistaken. The neighbors all wanted more retail rather than housing. Have you not noticed all the empty storefronts in Friendship Heights and Bethesda? Brick-and-mortar shops can't make a go of it with the high rents around here.
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