Sunday, September 28, 2008

11th Street Brimming with New Condos


One stretch of Shaw just got a little bit more crowded. At present, there is not one, not two, but three competing condominium developments vying for dominance on a two block stretch of 11th Street NW: the Logan Park by the Murillo/Malnati Group (MMG), the Renaissance at Logan by Habte Sequar and, most recently, Providence Eleventh Street Lofts by Willco Residential. As we’ll explore below, all are highly comparable, so what makes this more than just a choice between apples…and more apples?

The Logan Park, located at 1616 11th Street NW, is a 16-unit “European-designed” boutique building and the oldest project on the block. Despite being completed in spring of this year, 4 units in the building remain unsold and unoccupied. The 5-story structure designed by Lucarelli, Montes & Wells features a shared green roof, a parking garage, on-site storage and boasts a location only blocks from the Metro. Prices are advertised as beginning at $299,000, but don’t let that title fool you; although it bears the Logan name, the project is located firmly with the boundaries of Shaw proper.

Right next door to (and in direct competition with) the Logan Park stands the Renaissance at Logan at 1618 11th Street NW. Although priding itself on catering towards the “urban buyer,” the 16-unit building (not unsurprisingly) features many of the same amenities as its neighbor, including the ever-popular common area roof terrace, the same Metro-oriented location and, of course, the Logan nametag. The prices, however, are similar, but somewhat divergent – units at the Renaissance start at $315,000.

Then there’s the new kid on the block, the Providence. The 4-story Willco Residential project, located at 1515 11th Street NW, currently has all 8 units in the renovated 1920’s space on the market via Coldwell Banker. Named for the street car line that used to run down 11th, the Providence is offering 1 or 2-bedroom lofts that range from 840 to 1550 square feet. The project was built out by McCullough Construction and also sports prices in the low $300,000 range.

So there you have it: 28 condo units waiting to be snapped up on either side of Rhode Island Avenue NW. Given the recent developments in the condo market (and beleaguered progress for Shaw itself) only time will tell if 11th Street will come out of this a new hotspot or real estate deep freeze. Let the price wars begin…

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