The Georgetown Current is reporting that retailers Target and Bloomingdale’s may be moving in to the Shops at Georgetown Park.

Both stores are looking to occupy large spaces in the mall according to sources involved with the negotiations.

If the deal goes through it would be significant progress in the previously stalled redevelopment of the mall. Target would likely be located in one of the lower floors of the mall that is less desired by smaller retailers.

In 2008, Bloomingdale’s made its first attempt to move in to Georgetown Park, but those plans were scrapped when the mall owner defaulted and lost ownership of the mall.

The Columbia Heights Target is currently the retailer’s only location in D.C.

Even if the companies decide to move in to Georgetown Park, it could be several years before the stores open for business.

Carol Joynt, the former Nathan’s owner who’s ever watchful for Georgetown businesses that are opening or folding, is reporting on her blog that Benetton and Aldo are both doing suspicious “remodeling” that indicates that they’re pulling out of Georgetown. If they indeed close for good, they’ll join a long list of big names that have left Georgetown in the last few months, including Up Against the Wall, Commander Salamander, and American Eagle.

Carol Joynt, who’s well-connected in the Georgetown rumor mill, has also heard that Ristorante Piccolo, a date-night favorite that was finally going to be reopened this year after being routed by a three-alarm fire in 2008, may not reopen after all. They’ve undergone nearly complete rennovations, but they are reported to be having trouble with their insurers. Finally, Joynt reports that a Bloomingdale’s is not completely out of the question for the Shops at Georgetown Park—it’s just on the back burner.

Sigh. At least we’ll have an Apple Store soon…

Last year, the Voice got excited by the prospect of Bloomingdale’s setting up shop in the Shops at Georgetown Park on M Street, but now it looks like it’s not to be: the department store has pulled out of the project, according to a recent article in the Georgetown Current [PDF].

According to the Current, Bloomingdale’s—which was going to be the main attraction in a revamped Georgetown Park complex—backed out because of on-going litigation over the ownership of the development:

A Bloomingdale’s spokesperson declined to comment on the change, but an attorney for Western Development, which owns the retail-residential complex, confirmed the news.

“It is our understanding that given this litigation, Bloomingdale’s will not be proceeding as the anchor tenant,” said attorney Scott Morrison.