71°Partly Cloudy

Reston Town Center Bank Closes

by Jennifer van der Kleut — December 6, 2016 at 1:50 pm 11 Comments

Capital One at Reston Town Center closed (Photo courtesy of Photos courtesy of Michael McFarland)Capital One no longer has a branch in Reston Town Center, the company that manages the shopping area confirmed today.

The bank has “moved out” of Reston Town Center in just the past few days, according to a representative of Boston Properties. Friday was the bank’s last day in business there.

A sign posted on the bank’s window urges customers now to visit other branches in Reston (11874 Spectrum Drive), Herndon (1201 Elden St.) and Brambleton Town Center (42405 Ryan Road).

It wasn’t immediately clear why Capital One decided to vacate the popular shopping center. But the Reston location is just one of dozens of Capital One outposts across the country that have closed since 2012.Capital One at Reston Town Center closed (Photo courtesy of Photos courtesy of Michael McFarland)

Capital One locations in the D.C. metro area have gone down from 206 in 2012 to around 174 in June 2015, the Washington Business Journal has reported. CEO Richard Fairbank said earlier this year in an earnings report that the bank is “accelerating” closures and renovations on its brick-and-mortar locations in a strategy to save money and increase efficiency.

Per that strategy, Capital One has closed some of its lesser-visited branches and renovated many of the locations that remain with upgraded features, largely due to the fact that more and more of its customers are managing their bank accounts online.

Photos courtesy of Michael McFarland

Save

Save

Save

  • Chuck Morningwood

    Capitol One: What isn’t in your wallet?

  • SusanB

    Might I suggest that having two branches within a couple of blocks does not make sense for the company, and the one chosen to close is “coincidentally” the one where parking is, and will remain, free?

  • SusanB

    Might I suggest that having two branches within a couple of blocks does not make sense for the company, and the one chosen to keep open is “coincidentally” the one where parking is, and will remain, free?

    • Scott H

      …and rent is probably half.

  • Greg

    Fox Mill and Pender Professional center are closed too.

  • Arielle in NoVA

    And if you’re going to close a location because you’re short on funds, closing one in an expensive-to-rent area makes sense.

  • Joe Heflin

    It will cost money to use any store at RTC in January because they are going to paid parking with an APP. The idea of the APP may be enough to intimidate a lot of people into avoiding RTC. Or going elsewhere where there is free parking: Tysons, One Loudoun, Vienna or the new RTC West when it opens or….anywhere that is free and does not require one to learn a new system to park their car.

    I am surprised there has been little mention of this in the past couple of months. I believe this is a real gamble by Boston Properties. Frankly, the real gamble is the unfamiliar APP. Also, that a significant percentage of those who use Town Center will have no interest in learning what it is or how to use it.

    It will be just easier to go somewhere else.

    • Willie Reston

      The fact that the app rollout has been pushed back by several months already, coupled with the crickets we’ve been hearing about it now that we’re almost to the new rollout date, leads me to believe that BP is going to take this app out behind the shed and shoot it. Look for a hat-in-hand announcement on a Friday afternoon news dump, say, December 23rd.

      • Joe Heflin

        I object to the idea of the APP more than the paid parking. It’s an extra step that needs to be sold to the public. For someone who doesn’t live in Reston they may just keep driving when they see the signs. They have to stop and read and figure out how to use it. Never mind that Town Center is going to paid parking: now there is a second reason not to go. The APP

        Even if it only inhibits one person out of ten from using Town Center that may realistically represent a ten per cent drop in a store’s, restaurant’s or theater’s business.

  • dudewe

    Boycott the RTC parking garages when they start collecting fees for parking! Boston Properties (a $22 billion company) has made a lot of money in RTC and the surrounds. They are the epitome of greedy companies who are nice for awhile until they gain a competitive advantage and then zap it to its customers!

    Restonians beware, we are being overrun by mega corporations in housing and retail who will eventually charge higher and higher prices….

    PS: Thanks Capitol One for not bending.

    • Edward Calvert

      Even capitol one bank departed. Fight the parking Grinch !!

×

Subscribe to our mailing list