KIMCO Realty previously submitted Zoning Map Amendment application Z-8911-2021 and associated Concept Plan application SP-8910-2021, proposing to rezone 18501 North Frederick Avenue from C-2 (General Commercial) to CD (Corridor Development) and develop two multi-family residential buildings with ground floor commercial uses.
The shopping center is known as “Gaithersburg S.C.” and is home to MoCo’s only Bruster’s Ice Cream and Floor & Decor in the space that was once occupied by Hechinger. A new restaurant, Corner Pizza & Subs, signed on last year to take over the space that was home to the first Classic Bakery location.
The concept plan proposes up to a total of 580 residential units and up to 48,000 square feet of commercial uses, along with open and amenity spaces. No word on what would happen to existing tenants at the moment.
In a recent update, per documents by the City of Gaithersburg Kimco stated it will honor all existing tenant lease provisions, “but as part of our continual evaluation of our assets we believe it is important to position the center for the future both short and long-term. Given the changing market conditions, now is the time to make adjustments for the property’s best interests. Phasing and timing of next steps will proceed as possible with lease terminations, and future applications will be submitted in accordance. Due to the complications of the design, we anticipate 3-4 years of further entitlements, a year or two of tenant negotiations, putting an estimated start of construction date in 2028.”
Below you’ll see renderings of what Kimco would like to build in place of the current shopping center.
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