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.

Going to Nandos Bethesda Today!

Seemed like a good place to be on inauguration day based on this: http://everyoneiswelcome.us/

 

Rezoning Single Family Homes (SFH): MoCo Councilman Riemer Provokes Strong Reaction

I noticed that MoCo Councilman Reimer recently noted an interest in allowing SFH to be rezoned to accommodate duplexes. This idea has already provoked strong reactions – take a look at this comment from Robert Dyer (CEO of Suburban News Network).

What do you think? Is Reimer right to consider allowing SFH’s to be rezoned?

Is the density a boon or a problem for our area?

Or do you agree with Robert Dyer?

Feel free to drop me a note at raj@rajabout.com and we will share the most interesting comments here at Bethesda Actually.

New Renderings for Development that Will Replace Apex Bethesda

Thanks to @RobertDyer here is a link to some rather cool pictures. Of course the height of the proposed building is rather controversial as some folks feel it will accelerate the changing of Bethesda to more of a high-rise/ big city community.

What do you think?

A few key details were reported by Nena Perry-Brown @dcurbanturf:

The approved development from Carr Properties will deliver 360,000 square feet of office space, 14,572 square feet of retail space and 480 residential units. Approximately 60 of those units would be set aside as moderately-priced dwelling units for households earning up to 70 percent of area median income. The residences will be split across two towers linked by a glass-enclosed skywalk. The offices would front Wisconsin Avenue and the retail would front both Wisconsin and the southern portion of the public plaza. A portion of the Capital Crescent Trail is also meant to run through the site.

Thought About the New Police Station (2nd district on Rugby Road)

As readers know, there will be a new site for the 2nd District Police Station this Spring with the opening of its LEED Silver building on Rugby road.

It occurred to me that a “Safe Lot” to facilitate Craigslist sales would be a terrific addition.

What do readers think? A good idea?

More info on Safe Lots can be found here.

The Writers Center Bethesda

I just wanted to take a moment to give a quick plug to the terrific Bethesda Writers Center (4508 Walsh Street Bethesda). They have a wonderful series of programs, workshops etc. covering an incredible range of topics/ areas.

If you New Years resolution includes a quest to write, think, be creative, capture ideas/ memories and thoughts – you may want to consider popping over to the Writers Center to see if one of their workshops could assist your efforts!

Of course, if you would like to share some of your creative thoughts on these pages, feel free to send me an email – we can’t promise to publish every submission but would be happy to consider links to your work and short pieces (poems etc.)

Email, as ever, is raj@rajabout.com

Cheers!

Sierra Club One Day Hike: C&O Towpath from DC to Harpers Ferry

I am yet to successfully register for this hike but will be trying again this year (as you will see from the info below it fills up fast). The hike passes through Bethesda (near Glenn Echo, Sycamore Island etc.). Take a look at the info below and if you participate or want to share stories of past hikes please let the Bethesda Actually community know by emailing stories and pictures to raj@rajabout.com

Preliminary registration info for the ODH (http://www.onedayhike.org/register/index.html)

This is via their Facebook page:

The 44th One Day Hike (ODH) will take place on Saturday, April 29, 2017. All ODH hikers must be pre-registered; below is preliminary information about how you will do that.

For five-time finishers of the ODH, there will be a special, 3-day registration period from Monday, January 23, 5 PM, to Thursday, January 26, 5 PM. The registration form will request the last five years that the hiker has completed an ODH event (100K, 80K, or 50K).

The regular registration period will open Wednesday, February 1, 5 PM, and will close when the number of registrants reaches 350. (In some years, it has taken less than one hour to reach that maximum.) Registration may reopen to fill any cancellations. No registration will be allowed after Monday, April 17, midnight.

Registering: Registration is online via Active.com. I will email/post the link in about a week.

Fee: The fee for either the 100K or 50K is $55 per registrant. You will need a major credit/debit card: Visa, MasterCard, American Express, or Discover.

Transferring registrations: Registrations are NOT transferable. The registrant is the one who needs to do the hike, cancel in time, or not show up.

Who can register whom: Someone (over age 18) may register someone else. Multiple people may be registered per log-in session, but each person’s information must be entered individually (i.e., not by a list). If a participant/registrant/hiker is under 18 years of age, the person registering him/her must be the participant’s parent or legal guardian, but the person doing the registering must be at least 18 years old.

Minimum age for hikes: Hikers must be at least 16 years old for the 100K and at least 13 years old for the 50K on the day of the hike, and must be accompanied on that hike by an adult parent or legal guardian who is registered for the same version and is at least 18 years old.

Additional purchases: You may purchase ODH T-shirts (S, M, L, XL) and car stickers (“62.1” & “31.1”) for additional charges ($25 and $3 each, respectively) during the online registration

Investor Article 2017

Hi friends,

I am planning on writing a series of real estate investor articles this year for my client base. I will go ahead and post the ones with some relevance to Bethesda here. The first one, below, looks at the connection between Russian cyber attacks and real estate investment. Puzzled? Well read on and all will be revealed!

 

Russian Cyber Hacking and Real Estate Growth: Washington, DC Metro Market Investor Column 2017

The 2016 election campaign is finally, thankfully, over but as anyone paying attention to the news will know, the fallout continues. While the post-election discussions taking place are animated and wide ranging, there is one area in particular that should be of interest to real estate investors, namely the focus on Russian cyber actions during the election.

Puzzled? Trying to determine why those two subjects should be in the same sentence?

Well, consider what happened to the Washington, DC metro market after the horrific 9/11 attacks; the government massively increased its national security/ military/ intelligence spending and that drove economic growth in the region for several years. This growth had a positive effect on prices and some, including me, would argue allowed the Washington, DC metro market to ride out the Great Recession better than the rest of the country.

Now, post-election, cyber security seems to be positioned as the new “hot” issue for government action. Policymakers of all stripes are starting to recognize that other countries have developed significant capabilities in this area. If past is prologue, the natural response will be to dramatically increase spending to ensure that the US is the dominant country in the cyber/ national security space in the years to come.

Some commentators may be surprised at the suggestion that cyber security growth will take place in the Washington, DC metro area and not in Silicon Valley or even some of America’s emerging tech hubs. First, I do not want to suggest that there won’t be growth in those areas, clearly there will be. However, the DC metro area already has a thriving tech industry (it has been called the Silicon Valley of the east for a number of years) and can collaborate on cyber security with its neighbors in government/ intelligence and the military. This geographic proximity and intersection, combined with a highly educated workforce, ensures the DC metro market is perfectly positioned to lead the cyber actions job revolution. My belief, shared by others, is that the leadership in this sector will come from the DC metro area.

As the funding increases and these jobs come online (literally and metaphorically), the pressure on housing and house pricing will grow. The beneficiaries of this uptick in economic activity should be real estate investors, home owners and others involved in the real estate sector.

Of course, as in life, nothing is guaranteed and there are details to be parsed out, but I believe that the connection between cyber security and real estate growth should be looked at closely.

Warmly,

Raj

This note is part of an occasional series of investor related pieces that I produce for clients and prospective clients. I appreciate receiving feedback and welcome the opportunity to discuss any aspect of the US real estate market with you or individuals in your network. I can be reached at (240)486-3921 or raj@rajabout.com

All information in this paper (and the associated series of papers) is presented in good faith but its accuracy is not guaranteed. The author, Raj Purohit, is a licensed real estate salesperson in Virginia, Maryland and DC, and is not an attorney (in DC, MD or VA), accountant, financial or tax advisor. The information in this paper should not be used to influence any investment decision. Before making any investment decision, you are advised to consult with legal, financial and tax counsel.

Snow and Ice Pictures

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The past weekend was incredibly cold and we had our first real snow of the season – above are a few pictures of the building site across from the Gallery Apts (you can also see the Whitehall in the background as well as the former site of Tough Temple Cross Fit). Feel free to share your pictures of snowy, cold Bethesda by emailing: raj@rajabout.com

Notice at Battery Park

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There is an event at BCC Regional Services Center (4805 Edgemoore Lane 2nd Floor Bethesda on January 31st from 7-9pm to review the Playground Renovation Plan. In light of the concerns re: a road through the park, the meeting will be an important one to attend. Please confirm the details closer to the time with the MNCPPC — see number on the sign above.

If you are at the Whitehall Condos, Sussex House Condos, Madison Condos, Battery Lane Apts, Aldon Apts or other residences in the immediate area, please share this info.

Cheers!