Business Notes: 128-Year-Old Boutique To Close in Chevy Chase
Plus: Oliver Carr Jr. to be honored with lifetime achievement award; regional leaders to discuss D.C.-area economy Wednesday
Google Maps Streetview
Saks Jandel to close in Chevy Chase
The president of the longtime family-owned boutique told The Washington Post the 128-year-old store will close at the end of the year so he can focus on his real estate investments. The luxury retailer of high-end brands was known for supplying Washington’s elite with formal wear and bridal gowns throughout its history. President Peter Marx, the fourth-generation family owner, said none of his children are interested in taking over the business, which he said remained financially stable. The store, founded in 1888, survived the Great Depression and weathered the recent consolidation of the fashion industry that saw major brands become corporatized public companies, according to the Post. The shop at 5510 Wisconsin Ave. joins other high-end retailers that have exited the Chevy Chase market over the past year—many have left the Collection at Chevy Chase, the retail center across the street from Saks Jandel, that’s undergoing renovations and changing its retail mix to be less focused on luxury brands.
Oliver Carr Jr. to receive Lifetime Achievement Award from Urban Land Institute Washington
The Washington, D.C., branch of the real estate association that also acts as a de facto champion for smart growth in cities plans to honor Carr, 91, who is the chairman of Carr Cos., with its Lifetime Achievement Award next month. Carr is being honored because of his “commitment to real estate… [and] civic, charitable and philanthropic endeavors,” according to the association. The Bethesda resident started his real estate career building homes in Montgomery County in the 1950s before turning his focus to D.C. and developing major buildings in the city. Carr is scheduled to receive the honor at an event Nov. 10 at the National Building Museum in D.C. The local businessman will be the second from the county to receive the award in two years—Chevy Chase magnate and Washington Nationals owner Ted Lerner received ULI’s Lifetime Achievement Award in 2015.
Image left: Oliver Carr, Jr. via ULI Washington.
Maryland and Virginia governors, D.C. mayor to meet Wednesday to discuss regional economy
Maryland Gov. Larry Hogan will join Virginia Gov. Terry McAuliffe and Washington, D.C., Mayor Muriel Bowser at an event in D.C. Wednesday to discuss ways to bolster the regional economy. The leaders are scheduled to discuss transportation and the Metro system, how to diversify the local economy and ways to promote cross-border economic cooperation. The event takes place from 7:30 to 9:30 a.m. at the Washington Hilton on Connecticut Avenue and is sponsored by The Greater Washington Board of Trade, Northern Virginia Chamber of Commerce and the Prince George’s Chamber of Commerce.