Tuesday, March 17, 2009

DC's Palisades Demolition Clears Way for Single Family Homes

Encore Development and engineers Dewberry and Davis are currently on site at 4800 U Street, NW, where they are parlaying the former site of a single-family Palisades home into eight development lots. Encore purchased the property, which stands only a block from MacArthur Boulevard, in 2007 and subsequently razed the home at the site soon thereafter.

“We actually bought a 3.2 acre parcel there and sold half of it to the St. Patrick’s School. We retained the other half for ourselves,” said Encore principal Steve Kay. According to him, though Encore has already received numerous inquiries from other development teams looking to acquire the property, the roughly 9,000 square foot lots will most likely be sold ala carte to would-be owners once work ends sometime in “the May to June timeframe.”

As Encore’s interest in the site will feature no new construction, the developer needed little clearance to proceed with their subdivision. “It’s a matter-of-right project and all of the lots have frontage on either 48th or U Streets…We did meet with ANC, but there was no approval process,” said Kay. “But there will be 8 houses there, as soon I release the lots for sale.”


Anonymous said...

The problem with the statistics is that the DC area generally includes far-out suburbs, as far as West Virginia and southern Maryland. Those areas and basically anything outside the beltway is getting killed. Pretty much anything inside the beltway (especially DC proper, Arlington, Bethesda) are still very strong.

Anonymous said...

"very" strong is a bit of an exaggeration.


DCmud - The Urban Real Estate Digest of Washington DC Copyright © 2008 Black Brown Pop Template by Ipiet's Blogger Template