Though it’s known as one of the most upscale suburban towns in the US, the wealth of Bethesda isn’t loud or extravagant; Bethesda itself has always catered more to the common man than to the elite.
But as modern definitions of luxury — and luxury living — change, and as the demand for new amenities bends to fit this changing definition, will the vibrant town of Bethesda lose its home-town feel as it becomes a target for modern luxury?
Changing Wealth and Economy
Luxury was once defined by space.
By vast estates stretched over acres and acres of manicured lawn, by manors boasting a maze of rooms that required an entire fleet of servants to maintain, by miles of woods and long abandoned road between neighbors. But so much has changed in the modern world — everything is instantaneous, right here, right now, immediate.
In a world where everything we could possibly desire lies waiting at our fingertips, from information on the internet to fast dining, where a trip across the world can be accomplished in only a few hours, where modern technology has the answer to just about everything, convenience has become the ultimate luxury. Time is money, right?
This is America; we don’t wait.
Peace and Quiet Gives Way to Hustle and Bustle
Because expectations are changing, the very definition of luxury living itself is changing. Why would a vast country estate be desirable when a city high-rise literally seconds from shopping, dining, and entertainment could give you so much more… in so much less time?
The idea of quiet retreat is fast becoming antiquated, to be replaced by a modern desire to be in the hub, in the midst of excitement, in the very heart of everything. We want posh retail, we want fine dining, we want entertainment, and we want it all now. The values that have driven millions to New York City every year are spreading across the states.
Forget peace and quiet, we want excitement and we want it now!
New Developments in Bethesda
Businesses in Bethesda haven’t overlooked this change and rapid new demand, which is why downtown’s Bethesda Row has become such a posh retail and service area, with stores like Williams-Sonoma, Kate Spade, and Bluemercury popping up all over, a plethora of fine-dining restaurants lining the street, and even fitness, nutrition, and spa services boasting the latest classes and cleanses and treatments.
Real estate developers have also noticed this changing demand and they’re not about to pass up an opportunity to capitalize on an emerging new market. Bethesda real estate pricing has been on the rise, but thus far, most Bethesda houses are still moderately-priced suburban homes. All that is about to change.
Three new Bethesda real estate undertakings are about to break ground on a whole new market in Bethesda.
- The Lauren, opening 2016, will be one of the most posh, luxurious, and upscale condominiums ever to sell in the Washington area, with professional kitchen appliances, valet parking, concierge service, and a wine lounge.
- The Darcy, another condominium under construction, will offer a private fitness center and residents’ lounge with espresso maker.
- The Flats, sister property of The Darcy, will offer upscale apartments for rent starting at $2,500 for a studio. The complex will also include upscale retail stores such as Pottery Barn, Passion Fish restaurant, and a farm-to-table restaurant called Silver.
What Could This Mean for Bethesda?
Is the world of Bethesda changing? Will the quiet modesty of suburbia give way to a bolder display of extravagance? A lot could be banking on the development and success of these new resident complexes, which will likely bring to Bethesda a new element of wealth. Bethesda Row — and possibly the surrounding area — is likely to see a continued increase in business development, drawing in more posh retailers, unique new restaurants, and new entertainment venues.
The definition of luxury living in Bethesda is changing, that much cannot be denied. Just how much it will change remains still to be seen.
Bethesda, MD: Always Home
Whether you’re in search of an elegant single-family home in the suburbs or a new high-rise condo in the heart of it all, you’ll find it in Bethesda.
Contact your Bethesda real estate experts for more information, to schedule a showing, or to view available Bethesda homes.
Your luxury Bethesda home awaits.