Thursday, August 30, 2007
After months on the gossip wagon (whatever that even is), the Towers at Senate Square will be closing its offices - at least temporarily. According to the sales office, Broadway's ambitious development - 432 condominiums in two 12-story towers - has paused with the closing of the sales office, effective today. New York-based Broadway began selling the units in September of 2005, and had reportedly sold about 150 market rate units before making the decision to take them off the shelf to evaluate "refinancing" of the project. Sales had been "temporarily halted" weeks ago when the developer paused sales in order to 'adjust its pricing'; upward, they have been saying, but kept the sales office open, now the sales office will remain closed until September 24, according to the sales staff. Broadway had been accepting but not ratifying contracts in the interim, leading to speculation that the project would change in scope. The pair of buildings are expected to complete in November.
The Towers, located adjacent to the Amtrak line on H Street, has been offering no shortage of amenities, including an 80' rooftop lap pool, green roofs, running track, and concierge, all within a gated community. Broadway has been one of the few residential pioneers on the booming corridor, but numerous residential and commercial projects are in the offing on H Street, which itself will be eclipsed by the volume of construction immediately to the north and west in NoMa.