Category Archives: Business

First in a series: Reflections on “Capital of the Future.”

First in a series: Reflections on “Capital of the Future.”
I recently dug out an old copy of the Washingtonian from April 2015 that featured hopes, dreams and predictions for our regions future. It struck me that it might be quite interesting to pull out various nuggets from the magazine and see if the ideas seemed plausible, possible, on track or unrealistic two years on.
I know bits of this series will be about the world just outside Bethesda but we are in an increasingly connected area and I think that this series has real relevance for Bethesda.
I’d love your thoughts on each idea/ vision — do you share it, love it or hate it?
Let’s start with a piece from “Capital of the Future” on White Flint and Montgomery County for Millennials (and their kin) which begins:
“Why should the big city get all the young people? That’s an argument behind an argument to rebuild a stretch of Rockville Pike as a 24 hour play ground for car free millennials.”
The piece goes on to discuss the White Flint Sector plan and concludes with this comment from Lindsay Hoffman, former director of Friends of White Flint: ” If you asked me the one thing I’m afraid of, it’s that we’re going to build all this and no one will come.”
So friends, what do you think? Two years on from this article, is the White Flint development living up to the hype?
My take is that a lot is going right at the moment, the Pike and Rose development particularly with the new brew pubs, restaurants, condos and hotels is a big draw and is changing the area dramatically, and, I believe, positively.
The White Flint area is proving to be a big draw for newcomers and others simply looking for a change of scene.
I have had good discussions with investors who are looking to buy property in the surrounding community to take advantage of the growth and development.
The only real concern I have at this moment is whether White Flint can deliver on their post-car transportation vision. More support is needed for metro and we need to see more money put into bike lanes and rapid transport.
What do you think? Do you like the direction White Flint is going in or do you have concerns?
Please let me know!
As an aside, see link below for more info and remember I am always happy to discuss White Flint and the real estate implications (residential, commercial and investment) one on one.

Hardwood Artisans: Corner of Norfolk and St. Elmo (well worth a visit)

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Bethesda Real Estate Investing Meetups

Hi friends,

I have been asked by a few people to start a Bethesda Real Estate Investing meetup that is grounded in easy to understand systems and models. This is something I am happy to do but just wanted to get a sense from folks what other specific things are missing from existing seminar/ meet ups etc.

So! Please give me a call at (240)486-3921 or drop me an email to raj@rajabout.com with your thoughts.

1. Do you have strong feelings about format, timing, content, size etc. Now is the time to make your voice heard.

I want to make sure that this meetup/ seminar series is incredibly useful to attendees and that we can work together to build strong investment portfolios.

Cheers,

Raj

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Bethesda (as part of Washington, DC Metro area) Ranked 4th Best Place to Live

The Washington, DC Metro area (which of course includes Bethesda) was just ranked the 4th best place in the US to live by U.S. News and World Report. As a resident that probably feels about right – if we had a beach we would be number 1!

What is also worth considering is that we are also among the very top places in the country to invest in real estate.

So in combination – you can buy a property in a place where you should enjoy living and if you move, you will very likely have a good investment.

Take a look at the rest of the article (some useful bits in it including the important point that experiences [and I believe investment return] will be neighborhood dependent).

Happy to discuss real estate data, local markets etc. any time — email me at raj@rajabout.com or call (240)486-3921

Picture of the Day: Where in Bethesda is this high end feature?

Answers via email to raj@rajabout.com

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Marriott Downtown Bethesda Continued

Just a follow up to last weeks post – here are a few more details on the Marriott downtown Bethesda HQ move – taken from Marriott directly via this link. What do you think? Good move for the Bethesda Urban downtown area?

What will be built? When will it open?
The new $600 million Marriott headquarters envisions a state-of-the-art campus with an approximately 700,000-square-foot office building, a 230+ room Marriott hotel and a pedestrian plaza connecting the two buildings that will also be open as a public connection between Wisconsin and Woodmont avenues. Under current plans, the office building and hotel would open in 2022.


Tell me more about the hotel
It will be a flagship Marriott hotel with over 8,000 square-feet of flexible meeting and ballroom space for meetings, conferences, banquets and events. The hotel will also offer exceptional dining and social amenities including a ground-floor restaurant offering outdoor dining on the pedestrian plaza, a specialty coffee shop and a seasonal rooftop dining terrace.


How tall will the buildings be?
As currently envisioned, the office building is proposed for 22-stories. The hotel is proposed for 12 stories.

 

Bethesda Real Estate: Both Under Contract and Available

Hi folks,

Just wanted to share a little “insider” real estate process info with you. When you look at properties on a number of the public facing real estate portals, they will use words like “pending” to note when the property is “under contract.” Generally speaking, this information is fairly accurate and the property is, in fact, not available.

However, if you are working through a good real estate agent, they are sometimes able to uncover that rare property that is “under contract” and also “available.” Confused? Actually it is fairly straight forward and the mechanics can be explained in detail by a good real estate agent (I am also happy to discuss with you one on one).

The reason I wanted to raise this is that I was looking at available condo units in Bethesda for a client and the very best unit I found was one which fell into this grey zone. I am not sure if the client will buy the unit but it is a prospect that did not seem available.

So if you are looking at property in Bethesda or anywhere else, confirm that you too have a shot and finding properties in this “grey zone.”

As ever, I am happy to discuss this or any other real estate matter with you – my email raj@rajabout.com and cell (240)486-3921.

 

Cheers!

 

Marriott International Moving HQ to Downtown Bethesda

Marriott just announced they would be moving their HQ to Downtown Bethesda.  This will further transform the Bethesda Urban/ downtown area.

Take a look at the link and below (taken from Marriott International) for more information/ FAQ’s etc.:

 

Why was this site selected?
The selected location at 7750 Wisconsin Avenue is ideally situated just a short walk from Metro and adjacent to ample parking options. It is near the heart of the Bethesda Central Business District with abundant resources for dining, shopping and other services that will support Marriott, its guests and employees.

Bethesda Green Internship Fair

I just wanted to take a moment and plug the Bethesda Green internship fair appropriately called “Fields of Green” scheduled for February 9th – more details at Bethesda Green.

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Open Question: How will the Purple Line Change Bethesda

Recently I was discussing this issue with some friends and family and found that there was no real consensus on what the changes will be and whether they will be uniformly positive/ negative or somewhere in between. I thought it would be really interesting to get the thoughts of the community on this question.

Drop me an email at raj@rajabout.com with your feelings re: the Purple line and how it will change Bethesda – we will post a few of them here in the days ahead.

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