Monday, October 24, 2011

Morning Real Estate Review

For White Flint developers, time to urbanize Rockville Pike is now (Washington Post) White Flint's 430 acres is now dominated by parking lots, older office buildings and strip shopping centers.

Luxury apartment project revived in Wheaton (Washington Business Journal) Alliance Residential Co. of Phoenix expects to submit plans for a scaled-back complex, at 11501 Georgia Ave., within the next 60 days.

U.S. readies stronger lifeline for homeowners (Reuters) The Federal Housing Finance Agency intends to loosen the terms of the two-year-old Home Affordable Refinance Program.


Ben said...

Re: the White Flint redevelopment. I don't think anyone denies the fact that the County is doing the right thing by pushing forward with redevelopment of some woefully under-utilized parcels around the White Flint Metro station. But as much as Arlignton's Orange Line corridor might be a a redevelopment template the County is looking for, I'm not sure the businesses that have been brought into the corridor *are*. There are a number of older, longstanding and popular locally owned businesses populating the maligned strip malls that currently dot the Pike. However, those businesses are there because they can afford to be there. Could a place like Ize's Bagels or the Knightsbridge Trading Co. exist in, say, Federal Realty's vision for the redevelopment of Mid-Pike Plaza? I have my doubts. Already, we risk losing several businesses--including the much-loved Bagel City--via the entrance of Wal-Mart to the area.

I think the addition of higher-density development, new residents, and a reinvigorated retail corrdiro are all good things. But as is always the case with alrgescale redevelopments of neighborhoods like this, I wonder if we are focused on what we might be losing as well. A wine bar and "upscale comfort food" cafe is fine so far as it goes, but I don't think anyone wants to see block after block of nothing but those kinds of businesses.


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