Montgomery County Planning engaged Econsult Solutions, Inc. to prepare a countywide retail market assessment, the first major update to the 2017 Montgomery County Retail Market Strategy. The study provided an evidence-based analysis of how e-commerce growth, post-pandemic consumer behavior, and changing real estate patterns have reshaped the County’s market. The goal was to equip planners and economic development stakeholders with strategies to attract and retain retail investment, support small businesses, and strengthen retail.
The project included countywide and submarket-level analysis of retail supply, vacancies, rents, development, and redevelopment trends. The ESI team evaluated 12 retail submarkets, examined national and regional retail trends, analyzed key corridors and existing retail inventory, compared Montgomery County with competing jurisdictions in the Washington, D.C. region, and interviewed brokers, developers, retailers, and other stakeholders. The team also assessed zoning, land use, parking, and development review policies to identify barriers and opportunities for future retail investment.
The team produced a countywide assessment and implementation framework that provided Montgomery County with:
- An understanding of current conditions, including approximately 38 million square feet of retail space, more than 8,000 retail-oriented businesses, and varying performance across the County’s submarkets.
- Identification of trends shaping future retail demand, including continued growth in mixed-use, food and beverage, and service-oriented retail.
- A framework for identifying where mixed-use redevelopment is feasible and where preservation and reinvestment in existing neighborhood retail centers is more appropriate.
- Recommendations for reinvestment in aging retail centers, more flexible zoning and land use regulations, streamlined approvals, and targeted placemaking and incentive strategies.
- A long-term outlook for future growth, including projected demand for two to three million square feet of additional retail space over the next decade, primarily through mixed-use and neighborhood-serving development.
Planning and policy recommendations tied to Thrive Montgomery 2050, including strategies to support walkability, complete communities, adaptive reuse, and stronger neighborhood commercial districts.