Back in 2007, Abdo Development demolished the Best Western hotel on the site to build Penn Tower, a 90-unit condo project, but later abandoned the plans and sold the site to the current developer. The Hanover Company's $45 million project is slated for delivery in spring 2009. The Downtown BID cites this space as the last remaining parcel of developable space - other than the already-spoken for Convention Center.
Why the downsize from 90 units to 49? The developer says it specializes in “premium multi-family units,” not condos. While pricing and exact square footage is not yet available, Stuart Rosenberg, a member of the developer's marketing team, told DCMud that “apartment footprints do tend to be spacious.” Minimum unit square footage in other projects hovers around 1,000 s.f.
The project's below-grade parking garage will offer the Downtown BID approximately 40 spaces upon completion. The developer is currently working on projects across the country in Boston, Philadelphia, Los Angeles, and Denver as well as the closer Crescent Falls Church in Virginia and Domain Brewer's Hill in Baltimore.