Last week I was bemoaning the one-out-one-in trade of Citibank moving down Wisconsin Ave. But a commenter pointed out that another bank branch is closing in Georgetown imminently: the TD Bank at Wisconsin and Q. The reader stated that the closing date will be May 4th.
Another source confirms the branch’s closure. The action is reportedly connected to the bank pleading guilty to money laundering violations last fall. Allegedly as s result of the $1.8 billion fine, the institution is closing 38 branches this year, including the Georgetown location.
Longer term residents likely remember this property as the former Reed Electric building. The company vacated the property around 2007 and the current building was constructed a year or so later. TD Bank has been the only tenant in the building since then.
This vacancy leaves open a property with a great deal of potential. We saw a similar situation arise with the closure of the Capital One down the block. Now that formerly quiet bank branch is packed with people downing coffee and croissants as a Tatte. It’s a great demonstration of the huge amount of potential that buildings occupied by bank branches are likely wasting. And I say that as a Capital One account holder who was inconvenienced by the bank’s closure. Yes, it’s inconvenient, but the area is much better off with a lively cafe instead of a mostly empty bank.
And like the Capital One, the TD Bank building sports a parking lot that could be used, at least in part, for outdoor dining. I hope a restauranteur with a good vision steps forward to take over the space!
The Georgetown Metropolitan 
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