D.C.-based developer Community Three officially acquired the former Midas auto repair building at 4725 Cheltenham Drive in downtown Bethesda last month. It sold for $4,510,000, according to Maryland real estate records. The official purchaser was Community Three Maryland, LLC, a shell company.
A plan by real estate firm Bozzuto to convert the building into residential housing was approved by Montgomery County this past January. The 1960s building is currently home to Bethesda Detailers.
7 comments:
Oh good, more apartments.
Nice to see development on the east side of Wisconsin. This nine story high, entirely residential building, with the existing park on the east side, will be a nice buffer to the mostly single family East Bethesda neighborhood to the east. Instead of viewing a much taller office building on the west side, the existing residents will overlook a more appropriately scaled residential building and an enhanced park.
I hope more of these get developed along that stretch of Wisconsin. Lots of available and under utilized properties to enhance the walkability of the neighborhood, but still protect the lower densities to the east. Of course NIMBY’s will disagree, but this type of development makes perfect sense.
I wonder if that was a wise purchase. I guess so because they may be able to flip that site when the whole place gets blown up. That's the next frontier. That entire side of Wisc. Ave is going to be bulldozed with mix-use high-rise buildings.
Bethesda Detailers just moved there about 2 months ago. Does this mean they'll be leaving soon? They have great service and great prices, so I hope at least they stay nearby.
The nine story apartment building is only partially approved, so it will be at least a year before full entitlement, construction drawings and permits before any construction. The detail shop is clearly a short term tenant.
And yes, it is indeed very good to see more apartments (or condos)! Perhaps 6:14 AM would prefer a nasty old muffler shop from the 1960’s to remain forever, but most reasonable folks understand that more density near mass transit is a very good thing.
This lot really needs to assemble with the CVS property.
The size of the Midas lot is apparently large enough to build a project about as large as the Darcy, so it’s not that small. Not all projects need to fill entire blocks. But I agree that the CVS site is ripe for a much denser development.
Post a Comment