Quantum says garage foundation is underway at Beltway Plaza but residential financing still unresolved

Quantum Corporation representatives updated the Greenbelt City Council on the long-planned redevelopment of Beltway Plaza on Thursday, saying they have begun the permitted foundation and grading work for a parking garage while continuing to seek financing for the residential portion of the project.

Kenny Wine, who introduced himself as "Vice President of Operations," told the council he joined Quantum about six months ago and is focused on tenant success. Quantum said grading for the garage began around July 4 and that concrete work on the garage foundation started "around Sept. 1," and that the company is using its own funds to advance that portion while pursuing a residential developer and construction financing.

Why it matters: The company framed the garage as a way to spur broader development. Quantum said the first residential building is large — more than $100 million to construct — and that financing market conditions have delayed the next phase. Company representatives said they hope to use the garage work to demonstrate momentum that will attract residential financing and developers.

What was approved and what will change: Quantum said a previously approved plan includes three residential buildings and one hotel in the rear of the…