EDENS and Montgomery County to Partner on Redevelopment of Burtonsville Crossing
Leading retail developer moving ahead with plans to revitalize existing center and develop adjacent site with mix of other uses
Sep 16, 2015
WASHINGTON, Sept. 16, 2015 /PRNewswire/ -- EDENS, one of the leading retail developers in the country, together with Montgomery County announced that they are moving ahead with the redevelopment of Burtonsville Crossing and the adjacent park-and-ride lot. After reaching an agreement with grocery anchor Giant last month to terminate the lease on their property that has been dark since 2010, plans to revitalize the shopping center will now begin in earnest.
In 2014, EDENS was selected by Montgomery County to develop the adjacent surface parking lot while continuing to provide commuter parking at this strategic location. While it is still early on in the design and planning process, the developer is focused on offering a mix of uses, including new retail and unique public gathering spaces. The concept is an integral part of the overall Burtonsville Village Center Neighborhood Plan put forth by the county at the end of 2012.
"Our goal with this project is to enrich the Burtonsville community, with excellent retail and dining options, civic space, and a mix of other uses specifically curated to fit Burtonsville's unique identity and character," said Jeff Kaufman, EDENS senior vice president of development for the project.
"EDENS has been developing and redeveloping retail for 50 years. Our recent projects at Merrifield and DC's Union Market are examples of the quality ethic EDENS maintains in the region. This is the kind of project we do best." Kaufman continued.
"We are excited that EDENS has crossed the first milestone for this redevelopment," said Montgomery County Executive Isiah Leggett. "This unique public-private partnership provides EDENS with the opportunity to do what they do best – create a sustainable, quality, mixed-use development and a win-win for the Burtonsville community," said Leggett.
EDENS owns and operates a number of other successful retail developments in the area, including Mosaic and Arlington Ridge in Northern Virginia, and City Vista and Union Market in the District.
EDENS develops, owns and operates community shopping centers in primary markets across the country. Focusing on innovative development and redevelopment together with key acquisitions in urban areas, the company has built an institutional-quality portfolio of more than 120 retail centers. EDENS has regional headquarters in Boston, Washington, D.C., Atlanta, Miami, Dallas, Houston and Columbia, SC. For additional information about the company and its retail real estate portfolio, please visit www.edens.com.
Contact: Shari Misher, 212-759-2800, [email protected]