Banks Continue to Invest in Branches, Displacing Restaurants in the Process
In an era of mobile banking, cashless businesses and financial apps like Venmo and Square, you'd think banks would be reducing their branch presence, but strangely, the opposite is happening.
In midtown, an Einstein Bros. Bagels on Monroe Drive in front of Ansley Mall closed earlier this week and will be replaced with a new PNC Bank branch. The branch was first proposed and approved last fall, but only recently have things started to move forward at a faster pace. Alan Aldinger, Vice President, Media Relations for the Pittsburgh-based bank told ToNeTo Atlanta earlier this month that PNC anticipates opening in "mid-2018."
In Buckhead, a popular Wendy's restaurant was replaced with a PNC Bank, while a former Pizza Hut was replaced with a Chase Bank branch near the Lindbergh MARTA station.
In Sandy Springs, Atlanta based SunTrust Bank is moving forward with plans to relocate one of their existing Sandy Springs branches to a nearby site. The new bank property, 6240 Roswell Road, is currently home to a Wendy's restaurant, and is about seven tenths of a mile north of the current branch at 5898 Roswell Road.
Reporter Newspapers reported this past fall that the planned replacement was blasted as "anti-pedestrian" by the city Planning Commission. The bank was said to be "out of character with the pedestrian-oriented City Springs project across the street." In a 5-1 vote recommending denial of the project’s variances, the commission agreed with a city staff finding that called the bank and its drive-through a “detriment [to] the public good via perpetuating a pedestrian-hostile environment.” Despite the vehement objections, SunTrust won approval of their plans from the Sandy Springs City Council.
Reporter Newspapers reported this past fall that the planned replacement was blasted as "anti-pedestrian" by the city Planning Commission. The bank was said to be "out of character with the pedestrian-oriented City Springs project across the street." In a 5-1 vote recommending denial of the project’s variances, the commission agreed with a city staff finding that called the bank and its drive-through a “detriment [to] the public good via perpetuating a pedestrian-hostile environment.” Despite the vehement objections, SunTrust won approval of their plans from the Sandy Springs City Council.
Hugh Suhr, SunTrust Corporate Communications, told me earlier this month "we’ve made no public announcements regarding either location you’ve inquired about so I don’t have any details to share at this time."
Despite the bank's position, plans for the construction of a 3,537 square foot SunTrust Bank at 6240 Roswell Road were released last month, and a "land disturbance" permit was issued by the City of Sandy Springs on April 10. Sources say work could begin on the bank before the end of the year. For those still craving Wendy's "fresh never frozen" square patties, the Wendy's at 8455 Roswell Road recently reopened after being closed for over three years.
A few miles away in East Cobb, Regions Bank plans to demolish a relatively new (but already vacant) Pollo Tropical restaurant for a new branch.
SunTrust is also relocating a branch in Dunwoody Village to the former Old Hickory House, also in Dunwoody Village, that was first expected to become a Black Walnut Cafe location. The current SunTrust at 1710 Mount Vernon Road would close to make way for the new branch.
What are your thoughts on all the bank branches popping up around metro Atlanta? How often do you visit a physical bank branch? Where do you bank?
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