The Keating Group has closed its Clarendon sales center for the Phoenix Condos. Another developer gone out of business? You might think so, with gloom over real estate this year's bumper crop, but that would be incorrect.
Keating sold the last of its 181 condos last week, and will now focus on selling its commercial remaining commercial space in the project it began building in 2005.
The Pennsylvania-based developer renovated and expanded the historic Post Office on Washington St., now on the Federal Register of Historic Places, adding 52,000 s.f. of office space, retail, and of course the 11-story condominium on what had been a surface parking lot. Located 2 blocks south of the Clarendon Metro, the Phoenix was built by Turner Construction, and began selling more than 4 years ago, with prices originally running from the low $300's to the $700's. Construction completed in the summer of 2007. The project received approval by the Smart Growth Alliance - a mix of various smart growth and environmental groups, for its transit-oriented historic adaptation. The Phoenix condominium was designed by Dorksy Hodgson Partners, the main architects, with Oehrlein & Associates as the preservation architects.
Keating will be going postal again, next time in Bethesda, where it plans another post office conversion with adjacent condo project. No timeline has been offered for that.
Arlington Virginia real estate news