Business

The HealthWell Foundation®, an independent non-profit that provides a financial lifeline for inadequately insured Americans that’s based in Germantown, has enhanced its homocystinuria fund to also provide financial assistance to patients living with organic acidemia. Through the Homocystinuria and Organic Acidemias Fund, HealthWell will provide up to $5,000 in copayment or premium assistance to eligible patients with annual household incomes up to 500 percent of the federal poverty level to obtain prescription medications for the treatment and management of their condition.

Per the press release: Kathy Stagni, Executive Director, Organic Acidemia Association, said, “OAA is honored to provide a financial contribution to support broadening this fund to include organic acidemias. Those living with the condition can be faced with a multitude of symptoms including breathing difficulties, vomiting, slow growth, and lethargy. Organic acidemia may also lead to neurological and physiological harm resulting in toxicity to organs. If undiagnosed and left untreated, the condition can be fatal. Accessing proper care and the ability to afford continued treatment are obstacles that many patients face. We applaud the HealthWell Foundation for recognizing this unmet need and for providing the financial resources these patients need to access lifesaving treatments.”


Business

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced on Thursday the sale of Gaitherstowne Plaza located in Gaithersburg. The 71,329-square-foot shopping center is 100% leased and sold for $24.45 million. Gaitherstowne Plaza also boasts an average tenant tenure of over 10 years and is home to IHOP, AutoZone and more.

Per the press release: Gaitherstowne Plaza is a 71,329-square-foot shopping center and is 100% leased. The average tenure of tenants at the property is over 10 years and the roster includes national brands Gabe’s, AutoZone, Sherwin Williams and IHOP on an outparcel. “This is a generational acquisition as there are a limited number of transactions in esteemed Montgomery County, which is ranked as the nation’s fifth-wealthiest county by Bloomberg,” noted Dean Zang, IPA executive managing director.


Olney

The housing market exploded last year and the trend has continued halfway through 2022. 18632 Woodgate Place, a 7 bedroom, 8 bathroom, 5,915 SF home in Olney, was listed at $2,499,000– and it ended up selling for $2,175,000, making it the highest priced residential listing in Olney history (photos below).

The home beat the previous Olney record of $2,066,986 for 16672 Bridle Ridge Lane, which sold in 2019. The Bridle Ridge house is a Toll Brothers home with 11,182 SF living space with 5 car garage on just over half an acre (0.55 acre), according to our real estate expert Nurit Coombe.


Beyond MoCo

Per the State of Maryland:

ANNAPOLIS, MD—As part of his economic development mission to Western Europe, Governor Larry Hogan visited the Guinness Enterprise Centre (GEC), which is the leading university-associated business incubator in the world, to announce a new partnership between the State of Maryland and the Republic of Ireland focused on soft landing spaces, academics, and networking opportunities between the two regions.


North Bethesda

Tropical Smoothie Cafe will continue opening new locations in Montgomery County with the upcoming addition of a location in White Flint Station– the shopping center, not to be confused with the Metro station that has recently changed its name to North Bethesda Metro Station.

Tropical Smoothie Cafe will be located at 11620 Rockville Pike, next to Pho Eatery and two stores down from Ize’s Deli and Bagelry. Tropical Smoothie’s most recent MoCo location opened in Germantown on December 26 and the company has additional locations in Aspen Hill , Bethesda, 2 in Gaithersburg, Travilah, and White Oak. Another new location is coming to the Woodmoor shopping center in Silver Spring.


Germantown

The number of vendors varies from 50 to 150 depending on the weather. Since the markets are outdoors, weather always plays a part in the activity, but the markets are only canceled for heavy steady rain or high winds. The markets are held on the first Saturday of the month – April though November – and the cold dark early mornings of the first and last months require heavy coats, gloves and flashlights. In the summer months a rogue thunderstorm can send vendors racing to cover their goods with tarps and to seek shelter in their cars, only to pop out again like prairie dogs from their holes when the sun comes out. But that isall part of the adventure.

Vendors are charged $25 for a 10’ x10’ space and must set up before 7am and pack up at 1pm. After the overhead of insurance, port-a-john, signage and security, all the proceeds go to three local non-profit organizations – the Germantown Historical Society, the Button Farm Living History Program, and a Boy Scout Troop. The Germantown Historical Society began the Flea Markets in 1993 to raise funds. There were only about two dozen vendors at that first market


MoCo Government

The sensors detect rising water levels and provide early warnings about high water or flooding.  They are being installed at flood prone sites across the County. Each sensor is solar powered and has an internal battery to maintain operations during inclement weather. The sensors use a tethered node that is placed underwater. The node detects the amount of pressure placed upon it by the water and calculates the depth of the water. Every five minutes, data is sent from the sensor by a cell phone card to a master display. A small color camera also sends images back to the main display. Every location has pre-determined thresholds for water depths for the sensor to alert that water levels are approaching or exceeding flood stage. If they are, a crew is sent to investigate the potential flooding and whether a low-lying road needs to be cleared, or if an Emergency Action Plan for a dam needs to be activated.

The Montgomery County Department of Environmental Protection (DEP) led the effort to get the sensors and the County’s Office of Emergency Management and Homeland Security (OEMHS) worked on a Cooperative Research and Development Agreement with DHS and Intellisense Systems Inc., the company that makes the devices.  The County will share the data gathered by the sensors with the company and DHS to improve sensor design based on user feedback.


WMATA

Metro today announced on Friday that lower-priced unlimited Metrorail and Metrobus monthly passes are now on sale for travel beginning July 1, providing more flexibility and value to customers who may no longer be commuting five days a week. And beginning Monday, June 27, all customers traveling on Metrorail after 9:30 p.m. on weekdays will benefit from a flat fare of $2 per one-way trip. 

“As gas prices remain high and people continue to increase travel and commute to work more often, lowering the price of unlimited passes makes Metrorail and Metrobus an even more attractive option for work and pleasure travel throughout the region,” said Metro Board Chair Paul C. Smedberg. “Metro is giving customers even more value with a flat Metrorail fare of $2 per one-way trip after 9:30 p.m. beginning Monday, June 27, providing a welcome savings to service workers and those using Metro to get to and from nightlife attractions across the region.”


North Bethesda

Progress continues to be made at 915 Meeting Street in Pike & Rose as above-grade work is in its early stages at the state-of-the-art, LEED Gold-targeted building featuring 9,600 square feet of ground floor retail, approximately 25,000-square-foot flexible floor plates and 700 dedicated parking spaces.

The building, designed by Gensler, will incorporate a vibrant architectural design that includes numerous amenities, such as a rooftop conference center with collaborative common areas, WiredScore-targeted connectivity, a fitness center, and resource-efficient sustainable and wellness features. Rendering available below.


Bethesda

Maryland’s economic engine for technology companies, announced earlier this month that its Builder Fund invested $150,000 in AudioOne, Inc., a technology start-up based in Bethesda. TEDCO’s Builder Fund invests in and provides executive support to Maryland-based technology companies run by entrepreneurs who demonstrate economic disadvantage.

“We greatly appreciate TEDCO’s investment in our team and exciting new techology,” said Mark McMahon, CEO of AudioOne. “TEDCO’s funding support and resources will help AudioOne on our mission to bring personalized radio listening experiences to consumers in Maryland and across the country.”


Rockville

Work continues on Phase One of Twinbrook Quarter, the upcoming development located on the southwest corner of the property at Rockville Pike and Halpine Road. It includes residential, office and commercial space, and will include Montgomery County’s second Wegmans.

According to an update from Reimagine Twinbrook, below grade concrete pouring is 50% complete. “By the end of the summer, we expect to be finished pouring concrete for all of the below-grade levels of Phase One. Work is progressing in various stages around the excavated area, starting in the Southwest corner at Halpine Road and Rockville Pike (shown in the upper left corner of the photo) and progressing toward the Northeast corner. We’ve completed pouring all three underground levels in the Southwest corner and are at various levels of completion around the site.”