GM’s learned of a couple changes coming to M St. shops. In both cases, there’s a good deal of uncertainty, so how it’ll pan out is yet to be seen. But here you go:
The first involves Coach. GM has heard that the clerks are informing customers that the store is closing, so it cannot accept repair orders. No specific date was mentioned but it’s supposedly in “a couple months”.
The interesting thing about this closure is that the building is owned by Eastbanc. And way back in 2011, the company started seeking approval to build another version of Cady’s Alley behind the Coach building. At the time, Anthony Lanier mentioned to the ANC that Coach would be closing soon and then Eastbanc would take advantage of the opportunity to dramatically reconfigure the property and develop the alley behind it. And then nothing happened. Seven years later and Coach is still open. Well, open for now. Perhaps they exercised lease extension options and it’s only now that Eastbanc could end the lease. Either way, we’ll see if the developer (which is sitting on several vacant properties in Georgetown) wants to pursue its ambitious plans again.
The second change should partially come as no surprise. The Sports Zone closed around the new year. This is in connection with the company declaring bankruptcy. But what hasn’t been reported is that apparently Chase bank is considering moving in. This would be bad! Banks add zero to the retail mix, especially when there are already three other banks on M St., with another bank moving in to the old Nathans property with a bizarre bank/cafe concept.
The only beneficiaries of Chase moving in are Chase customers who don’t want to pay ATM fees. And since currently the closest Chase bank branch is in Delaware. Not Delaware Ave. Delaware, the state. So this bank will only really serve tourists or New York transplants who haven’t gotten around to changing banks. Booooooooooo….