Bond Bread/WRECO Redevelopment Update 07/22/22

Bond Bread Factory Redevelopment Back in the Mix, With More Residential 

Since being selected as the development team in 2019, the stalled project from Fivesquares Development, Edens and the Menkiti Group have said that they will soon resume the process of getting the 600,000-square-foot mixed-use project, formerly known as Howard Town Center. After over a year of delays, the joint venture have released a statement stating that they expect to submit revised plans with Historic Preservation Review Board in August, with hearings to begin in the fall.

The development team has bumped up the residential from 430 to 472 units over the Bond Bread building, plus 50,100 square feet of retail, a 180-room hotel, 179 parking spaces over the WRECO site, and a 19,000-square-foot central courtyard. 

The redevelopment will feature a central area serving as a public space accessible from V and W streets. The interiors will retain trusses and columns from the existing historic buildings, in order to maintain their "authenticity."

57 units, or about 12% of the total, are proposed to be affordable to households earning 60% of the area median income, or $54,200 for a single person or $69,500 for a three-person household.

The hotel will be a boutique concept so that it's a draw for Howard visitors and tourists alike, as well as an opportunity for dining concepts that would be attractive to business people who may be staying elsewhere.

Covid-19 had forced the developers to pause their work but has allowed them to better plan to account for how the pandemic has changed the market. For instance, apartment communities near amenities and activities are leasing well while higher-end hotels are a draw.

The Advisory Neighborhood Commission 1B had approved a letter of support for the design concept in a statement earlier this month. The project is by-right, meaning no zoning relief is required, but the historic nature of the site could may further extend the timeline if additional clearances are required.

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