Around Your Neighborhood – Pike & Rose
Adriana Parreira Cora ● March 7, 2019
Contributed by Adriana Parreira Cora, Realtor with the Eric Stewart Group of Long & Foster
Around Your Neighborhood – Pike & Rose
There we were on a busy Saturday, standing in line at La Madeleine. My boys were hungry and restless, both had been tagging along with me and their father on our errands. They refrained from running around the long rolls of silk and cotton at G Street Fabrics while I shopped for notions to replace their winter coats missing buttons. They waited patiently for dad to surface from CVS with a bag of first aid supplies to patch their soccer inflicted bruises. In exchange for their good behavior, we promised them a visit to Toys R’Us, our next stop. We ordered hot chocolate and pastries, sat down at the outside patio and enjoyed the sunny, unusually warm fall afternoon while the boys talked about the new toys they would get. There we were, at Mid-Pike Plaza twenty years ago.
Wait, what? Mid-Pike Plaza? That shopping mall in the middle of Rockville Pike where all the local people used to fill up the parking lot on weekends looking for a one stop shop for things they actually needed? Oh, I remember that!! Isn’t it called Pike & Rose now? Corner of Rockville Pike and Montrose Road? Yes, that’s the spot!! And boy, how it has changed!
Exit Rockville suburban strip shopping mall, enter North Bethesda mixed-use urban center. Although the zip code is still the same now as it was then, present day Pike & Rose is currently located in the newly established area of North Bethesda. Actually, let’s be fair; contrary to what many long-time residents might think, North Bethesda is not that new. Its boundaries, according to Montgomery County officials, have been defined since at least the 1970s as an unincorporated area north of I-495, east of I-270, south of Rockville city limits and west of Rock Creek Park. Hence, if you live in Luxmanor, Wickford, Park Side, Franklyn Park and Lone Oak, as well as the new residences at and adjacent to Pike & Rose, you live in North Bethesda.
With the new designation came a modern urban-suburban mixed-use community that reflects the contemporary taste for walkable city-like neighborhoods. And walkable it is, if you can drive there first, or take the metro to the nearby White Flint station. Its combination of residence and office buildings, restaurants, movie theater and a variety of little shops and well-known brand stores provides a range of living and entertainment options for almost everyone.
The community also has a rooftop farm operated by Up Top Acres and a club venue run by Strathmore called AMP, a live music and dining concept with cabaret style seating for up to 230 for performance. The fresh produce cultivated at The Farm is sold at the Pike Central Farm Market on Saturdays. Last summer, an outdoor beach area was set up, complete with real sand, beach chairs and a bar. The winter brought an ice skating rink to the rooftop of Canopy Hotel.
Walking around the area this weekend, I noticed a handful of new restaurants and shops. They are popping up one after the other and several more are expected to open in the next couple of months, which made me wonder about the parking situation – it is already a challenge to find a spot in one of the garages during peak hours.
From my observations, the residents of the buildings across Rockville Pike and on Montrose Road are also benefiting from the development, since they can walk there and fully enjoy what the area has to offer without having to deal with parking and the influx of evening and weekend visitors.
Property values are also being affected. According to the National Association of Realtors (NAR), the average home value in North Bethesda saw an increase of 12.15% in the last 12 months, elevating the median estimated home value to $551K. For comparison, the median estimated home value is $469K for Montgomery County and $334K for Maryland. The neighborhood ranking and review site Niche.com ranks North Bethesda #1 Best Suburbs for Young Professionals in Maryland and #2 Best Places to Live in Maryland.
Please contact me if you would like more information on property sales in North Bethesda or to receive information about the real estate market in your area.