Tuesday, July 21, 2009

Bethesda's 4900 Fairmont Seeks More Delays

Inevitable, probably. Developers of the 4900 Fairmont project in Bethesda's Woodmont Triangle are seeking an 18 month extension in the county's approval process, for the reasons you might suspect, including "the economic downturn and resulting freezing of credit markets" and "the current lack of residential market demand."

The would-be 16-story residential project would have replaced the eateries on the corner, including Indian restaurant Haandi, with 118 units of housing at the corner of Fairmont and Norfolk Avenues. With approval of the application likely, developer 4900 Fairmont, LLC has until January of 2011 to file a site plan with the county. The project was initially approved in December of 2007; the extension request will be formally heard at the county board's July 30th meeting.

Bethesda real estate development news


Anonymous said...

Too bad. The location is great - convienent to restaurants, grocery and other retail stores, theaters (movies and live performance), and Metro. At some point the banks need to loosen the credit purse strings.

Benjamin on Jul 22, 2009, 9:12:00 PM said...

Not that convenient to Metro. But still a great site.

Anonymous said...

Dude! Its three blocks to Metro. Thats convenient. The big loss will be Haandi...

Frank said...

Two more tenants just vacated - Lulu Florist (moved to the corner of St. Elmo and Woodmont Avenues) and Valparaiso Eterno restaurant.

With One-Stop convenience store and LT Nails gone many months ago, that's now four empty stores out of eight on the property. Maybe construction is getting closer.

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