Thursday, July 30, 2009

The Floridian - Still in Limbo


In May, Kady Development notified all potential purchasers and current owners of the Floridian, the Shaw condo project at 919-929 Florida Avenue, that interested buyers were going to have to wait a hot second. The owner was having problems with the lender - and by problems it meant a lien and lawsuit, preventing buyers from settling on their purchases. At the time, the developer hoped it would all be resolved within a month. But, now that its allllmost August, not much has changed.

Gerard DiRuggiero of Urban Land Company was concise in his answer to our inquiry. "The developer is having problems with the lender. We still have tremendous interest in the building. It appears to be one of the more popular buildings in the city as so many real estate agents keep bringing people who want to buy. And that's the update." Click.

In June, DiRuggiero said they planned to give buyers weekly updates. Hopefully potential buyers and current residents are getting more details in their updates on the Floridian's status than DCMud.

9 comments:

Anonymous said...

it is an ugly building and the neighborhood is in a "limbo" too. Far from the Metro. I cannot see why this area is getting redeveloped while other lots ontop of Metro stations remain undeveloped. Whatever!?!

Alex on Jul 31, 2009, 2:08:00 PM said...

Are you serious? The area may be many things, but far from the Metro it is not. 2 blocks to the Vermont street entrance.

Anonymous said...

The building is ugly but it's right off U street. It's a five minute walk to the metro.

Anonymous said...

I saw them make a presentation to the LeDroit Park Citizens Association about 4 years ago. What a bunch of clowns. They only got as far as they did because of the bubble. Now that it takes real groups to do business again, I'm not surprised they're having trouble.

Anonymous said...

It's more like a two minute walk from the U St. metro and the neighborhood is pretty far from "limbo". It's right off U Street, why wouldn't they continue development in this area?

Anonymous said...

It is convenient, but the Howard U parking lots and maintainance facilities to the North and East of the Floridian make it feel isolated. I had been watching this building go up for years and finally took a tour last fall. I disagree that it is ugly. I find the Floridian's exterior design and interior layouts kinda cool. But the units were small, the prices were high and the finishes were cheap.

Investment Property Matchmakers on Aug 6, 2009, 3:02:00 AM said...

I think it's mildly isolated, kind of awkward looking, and formerly overpriced (I'm sure the prices have dropped since the days a one bedroom was $600K). However, with all of the options on the market today, I don't see why this building would be "popular". The Lacey on 11th & Florida looks way better, and the buildings in Logan are probably running the same price.

sophiagrrl on Aug 17, 2009, 9:25:00 AM said...

I always felt that Howard really missed an opportunity to use this area to create a gateway to their campus from U Street... to really pull together the vibrancy of the area and the university. Instead the condos feel in limbo just off the main drag and hovering over an isolated college campus.

Oh, and really ugly.

Anonymous said...

THe Floridian is a two minute walk from U Street Metro...I attend Howard University and live right next to the building. The 2120 condos across the street are completely full, so location is no object. As an architecture student, I understand that the aesthetics are marketed to a young, urban crowd. Now, if they would just convert them into upscale apartments like Highland Park, the building would surely be full.

 

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