The new owner of Kentlands Market Square, KIMCO, plans a multi-year revitalization of the commercial district with an emphasis on increased density, updated facades, better pedestrian access and improved signage, lighting and landscaping, a company official told a gathering of residents at the Kentlands Stadium 10 movie theater on Monday.
KIMCO, one of the largest publicly traded owners and operators of open-air shopping centers in the country, purchased Kentlands Market Square last August and hosted the community forum to introduce itself and share preliminary plans for revitalizing the Market Square section of our downtown area. Caren Garfield, KIMCO’s Director of Development, led the presentation.
“We want to update store front facades using natural materials,” she began. “We see opportunity for more attractive outdoor seating, and we want to improve the pedestrian experience.” The five key elements the plan will initially address include: (1) facades, (2) pedestrian access, (3) signage and wayfinding tools such as directories, (4) landscaping, and (5) lighting.
“Our ‘grand gesture’ will be to break through the building currently occupied by Persiano Galleries to create a pedestrian walkway called a paseo,” she explained. The paseo would include new boutiques, restaurants and outdoor eating areas, and would extend from the parking lot through to Market Street.
KIMCO’s Goal
“Our goal is to increase density over time,” Garfield stated. Kentlands Market Square currently reflects a 25 percent vacancy rate that will be addressed in the immediate plan. “But how do we invigorate the Kentlands?” asked an attendee.
“Mixed-use development is the key,” replied Garfield, further explaining that increased density attracts tenants. As part of the mixed-use strategy, KIMCO plans to create first floor retail and restaurants, with apartments above. They also intend to build out on current parking lots. The plan is still under development, but Garfield noted that apartment high-rises are not in the works. “We expect six to eight stories.” she clarified.
“As density increases, so will the need for deck or underground parking,” Garfield noted and confirmed the site grade would support underground parking, but added, “There is no change in parking for the immediate plan.”
The General Plan
The redevelopment of Market Square will be achieved in phases over 15-20 years. “The phases will allow for incremental change starting with the eastern side of the downtown area,” Garfield stated. The eastern side is bounded by Kentlands Boulevard, and includes the area from the post office, the movie theater, stores and restaurants such as Vasili’s and Five Guys, to the middle of the property at Market Street. The western side of the KIMCO property has Whole Foods, Michael’s, other retailers and restaurants.
Across Kentlands Boulevard, property includes Lowe’s, Giant, other stores, and restaurants, but this property is not part of the KIMCO plan and is owned by Saul Centers real estate investment trust. KIMCO said they intended to strengthen the relationship with Saul Centers, the City of Gaithersburg and Main Street that also is outside the KIMCO property. “But we think Main Street is important,” said Garfield, “and we will work to gather ideas, possibly through roundtable discussions.”
Other attendees asked if there would be an ice rink, summer water feature or library. “We don’t have an ice skating rink, water park or civic building in the current plan, but we’ll continue the summer concerts and Kentlands events,” Garfield replied.
Mixed Reaction
Everyone in attendance was supportive of a revitalized Market Square; however, some of the attendees expressed agreement with the initial planning for facade improvements, walkways and lighting, while others shared concerns about the increased density, traffic and pedestrian safety when crossing streets, particularly for parents with small children in tow.
In 2008, the City of Gaithersburg adopted a master plan that included special study areas for the Kentlands Boulevard Commercial District. Current zoning and land use defined in the plan allow for the proposed development that KIMCO described. The master plan reads, “The study area’s mixed-use zoning classification permits a variety of land uses within the study area.” Regarding land use that is currently horizontally mixed, “Future development affords the potential for vertically mixed-use buildings.”
New Tenants
“What stores and tenants do you envision?” an attendee asked. Garfield explained, “We’re careful not to name specific tenants while in discussions.”
Kevin Allen, KIMCO’s Senior Director of Real Estate and Eric Llewellyn, KIMCO’s Leasing Associate were also in attendance along with Debbie Keating, Property Manager. “I am very optimistic about the future,” assured Allen. “We are getting a lot of interest.” Discussions with future tenants are tied to the immediate phase and upgrades to their space, facades and construction of the paseo.
“We’ve watched the retail nose dive,” expressed an attendee. “Whatever your group can do to revitalize Kentlands downtown would be welcomed. It would be great if you could release information as soon as possible.”
Next Steps
The redevelopment will align with the City of Gaithersburg master plan adopted in 2008. KIMCO plans to retain the current streets. The permitting process should be completed by this fall.
Garfield invited attendees to contact her with questions, and to monitor the KIMCO and the City of Gaithersburg websites. KIMCO is in the process of establishing a second-floor office at 117 Main Street in the Kentlands.
For More Information
To access the KIMCO website, go to www.kimcorealty.com.
To reach the City of Gaithersburg website, visit www.gaithersburgmd.gov and click on Planning Services.
To contact Caren Garfield at KIMCO, call 410-447-4490 or email admincgarfield@kimcorealty.com.