The City of Gaithersburg issued a press release today stating that Federal Realty Investment Trust (FRIT) has approved approximately $6.6 million in property improvement expenditures for the Gaithersburg Square shopping center located at 524 North Frederick Avenue. The shopping center dates back to 1965.
The renovations are set to begin in 2021. They will include a brand new plaza area with outdoor dining and amenities, in addition to a more streamlined shopping experience.
To read the City of Gaithersburg’s official press release, please click here.
Image courtesy of the Federal Realty Investment Trust website.
This is a waist of money cause the price is way to high. Just like that stupid wet fountain in Old Town Gaithersburg next to the tracks.
Plus with this renovation there is no where to park..Its to congested as is. Re think this please. Money can be put towards other things needed in Gaithersburg.
The money is not from the city of Gaithersburg.
The money is from the property owners. Not the city of Gaithersburg.
Oh, you best believe the companies are getting some sort of kickback at the taxpayers’ expense for this project.