Saturday, June 19, 2010

Breaking Ground and Inclusionary Zoning on Georgia Avenue


The developer of 2910 Georgia Avenue is again claiming that construction is imminent on 22 new condos, to be completed within a year's time. The matter of right development, designed by Eric Colbert and Associates, will come in at five floors, plus a penthouse, and will be no higher than 50 feet. The project was originally set to break ground in May, but faced a bit of a technical setback.

Art Linde, President of ASL Development Corporation confirmed the pending construction, "I'm picking up the building permits as we speak." Linde said there had been a few delays because of some confusion over inclusionary zoning. The rules, which kicked in almost a year ago and are fairly straightforward, require that new buildings (or groups of homes) with 10 or more units provide 8 to 10% of new units as affordable for "moderate-income households" - applicants making up to 80% of the Area Median Income (AMI).

Though the developer had previously said the entire project would be market-rate, the IZ rules require a building of this size to offer two units to moderate income buyers. Oops. Despite the snafu, Linde was eager to get to work, saying he hoped to start on Monday, but given the Friday afternoon permit pick-up that might again be a bit ambitious.

Washington, DC real estate development news

2 comments:

Anonymous said...

March on march on Georgia Avenue...you will rise again.

Anonymous said...

They Started!!! Took down a tree and silt fence is up!

 

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