Tag Archives: bethesda real estate

Reflections on Capital of the Future/ Where We’ll Live Cont.

Capital of the Future/ Where We’ll Live Cont.
Another interesting list is titled: Retirement Spots: The most members of the 65-and-up crowd will settle in these counties by 2040 (by % of total population):
Howard County (22.8%), Frederick County (22.4%), Fauquier County (21.9%), Charles County (21.4%) and Anne Arundel County (20.5%).
I found this one quite interesting, again for the places not on it. I did think that MoCo and Fairfax would be on this list. I have had a lot of clients recently looking to buy retirement property in Virginia (Alexandria, Fairfax and Arlington) as a tax hedge for estate planning.
What do you think? Any surprises on this list for you?

Reflections on Capital of the Future Cont.

The Washingtonian Special titled “Capital of the Future” included a fascinating piece titled “Where We’ll Live” based on projections for 2030 based on data from Maryland Department of Planning, Uni of Virginia Cooper Center, Metropolitan Washington Council of Governments and the Urban Institute.

There were three sub categories that I found really interesting. The first:
“Must Love Kids” looked at places with the most residents 19 and younger in 2040 (by percentage of the total population) and listed the top 5 as:
Loudoun County (31.9%), Stafford County (30.6%), Prince William County (29.7%), Spotsylvania County (28.2%) and King George County (28%).
This did surprise me a little — I actually thought Montgomery County would sneak onto that list. I spend a lot of time looking at real estate throughout the county and have felt that there has been a big spike in young county residents, a spike that has coincided with the increase in housing density.
Anecdotally,  here in Bethesda where I live and have my office, there are a lot of new apt. and condo buildings coming online and I am seeing significant numbers of families with young kids in these homes.
I would watch this prediction closely, we may well see MoCo and others making a push up the list in years to come.
What do you think?
If you have a young family would you consider condo or apt. living?
What neighborhoods and counties seem most kid friendly to you?

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.

Washington Post Covers Element 28

I noticed that the Washington Post recently covered the new Bethesda apt building “Element 28” and touched on the broader growth of high-rises in a piece titled: “High-end, transit-oriented apartments rise in Bethesda.” 

It got me thinking about the future a little bit….and I wanted to share this thought with you:

I hope that the spike in apartment buildings and new residents leads to a renewal of community in Bethesda. The risk is that things go the other way and we become more siloed but I believe that with some effort, imagination and constructive engagement with local gov., we can build a Bethesda that captures the best of years past with new energy and dynamism for the future.

Bethesda Downtown Sector Plan Dissenter Speaks

Marc Elrich, the one Montgomery County Council member to vote against the Bethesda Downtown Sector plan explains his vote here.

Bethesda Downtown Sector Plan Cont.

Reactions to the Sector Plan are coming in. Here is one take from our friends at Bethesda Magazine. Of particular interest was a point on additional development:

 

The plan opens the door to about 4.2 million square feet of additional development.

That might sound like a lot, but the county planning director and the chair of the Montgomery County Planning Board assert that the proposed Bethesda plan is modest in scale.

To put the number in context, county staff reports show that 23.6 million square feet of development existed in Bethesda as of September 2014. Ongoing and approved projects add up to another 4.6 million square feet. Included in that number is a roughly 940,000-square-foot redevelopment plan for the site of the Apex building at 7272 Wisconsin Ave.

What’s not included? Marriott International’s proposal to construct roughly 400,000 square feet near Woodmont Triangle for the company’s headquarters and a flagship hotel. That project will consume some of the 4.2 million square feet of new building space allowed by the Bethesda plan.

It will be interesting to get a variety of takes on this and other aspects of the plan. Feel free to email me at raj@rajabout.com

New Bethesda Downtown Sector Plan Approved

Friends,

I have not had a chance to go through the full document, so am simply going to provide the Council summary at this point.

More information to follow!

The Montgomery County Planning Department, part of The Maryland-National Capital Park and Planning Commission, is proud to announce that the Montgomery County Council approved its Bethesda Downtown Sector Plan on Thursday, May 25, 2017.  The Council voted 8 to 1 in favor of adopting the plan with only Councilmember Mark Elrich opposing the action.

Consult the Council’s resolution for more details about their approval of the plan.

The new Sector Plan is an update to the approved and adopted 1994 Bethesda Central Business District Sector Plan and the 2006 Woodmont Triangle Amendment.

 

The plan builds on the success of Downtown Bethesda by offering ways to strengthen its centers of activity – Bethesda Row, Wisconsin Avenue corridor, Woodmont Triangle and other established and emerging districts – over the next 20 years. The plan focuses on creating a downtown that is economically sustainable, environmentally sustainable and socially sustainable.

The Bethesda Downtown Sector Plan offers exciting new ways to achieve its goals. An innovative tool that will be employed is a new way of allocating density. The plan assigns heights, but density will be allocated through the Bethesda Overlay Zone and plans will be judged in terms of their contributions to open space, affordable housing and design excellence.

In addition, the plan recommends a high performance area that incentivizes energy-efficient buildings, increased tree canopy and innovative stormwater management in order to create a truly sustainable downtown.

Other recommendations will help create numerous new parks, preserve important community and historic resources, such as the Bethesda Farm Women’s Cooperative Market, and provide more affordable housing in the downtown. Projects will be required to provide a minimum 15 percent of moderately priced dwelling units (MPDUs), not 12.5 percent as is typically required.

New design guidelines for the plan area and specific details about the Bethesda Overlay Zone are now being developed.

Rentals: Bethesda Urban Living

A few of our readers have asked that we share some information/ thoughts and opinions on the Bethesda rental scene.  SO, we are going to write an occasional post on the different rental options/ buildings in our area. Of course, if anyone wants to have a more detailed discussion, they can reach me directly at raj@rajabout.com or (240)486-3921.

 

Thanks Bethesda Chocolate!

Mrs. Bethesda Actually just had a big birthday and as part of her present asked for a small sampling of chocolates from Bethesda Chocolate.

She received and has really enjoyed her chocolates!

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Condo Update: Cheval Bethesda

Hi friends,

Just an update on the Cheval Condo building in Bethesda. I popped by the site earlier in the week and it seems that work is moving at a steady pace. Their delivery date is still looking like early 2018. As a reminder, a few key aspects of the building are as follows:

1. It will be a 17 story building with 71 units

2. One, two and three bedroom units will be available (the three bedroom units really will be a hot item I would imagine)

3. Prices range from $700s to $3million + and square footage tops out at just over 2700 for the largest units

4. Garage parking and a host of amenities will be offered

If you are interested in the Cheval, the Bethesda condo market or have any other real estate needs/questions, please get in touch — my email is raj@rajabout.com and phone is 240 486 3921

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