Federal Realty’s Evan Goldman said the Rockville-based developer is putting $3 million into renovating the existing pad site at Rockville Pike and Old Georgetown Road.
Starbucks, Bank of American and Visionworks will remain at the site. Chipotle, which is located in the main shopping building, will move to the pad. The main building will be torn down for phase two of redevelopment.
The Planning Board on Thursday approved Federal Realty’s preliminary and site plans for the project.
Also remaining will be La Madeleine, the French-themed national chain and probably the most popular business remaining in the shopping center.
Federal Realty is hoping to drum up excitement for its Pike & Rose project with a special event on Saturday, Oct. 26.
“PIKEtoberfest,” is set for 10 a.m. to 3 p.m. and will coincide with the weekly Central Farm Market at the site. The event will include music, pumpkin decorating, wine tasting and a “truck touch” for kids.